# In the matter of Vijaygroup Housing Private Limited C.P.(IB)-759(MB)-2022

> NCLT judgment dated 2022-11-15. Citation: TCN-2022-NCLT-00453. The case involves a company petition filed before the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 15 Nov 2022
- **Citation:** TCN-2022-NCLT-00453
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vijaygroup-housing-private-limited-cpib-759mb-2022-cf4a285e

## Summary

### Background

The case involves a company petition filed before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the proceedings, it was brought to the notice of the Bench that the Corporate Debtor was already undergoing Corporate Insolvency Resolution Process (CIRP) before Court-II in another Company Petition bearing no. 862 of 2019, with an admission order dated 30.09.2022.

## Facts

Asset Reconstruction Company (India) Limited filed a company petition against Vijay Group Housing Private Limited. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. During the hearing, the NCLT was informed that Vijay Group Housing Private Limited was already undergoing CIRP in another company petition (no. 862 of 2019) before Court-II, with an admission order dated 30.09.2022. The counsels for both sides were present during the virtual hearing. The fact that CIRP was already ongoing was crucial to the decision of the court.

## Issues and analysis

### Issue 1: Whether the present Company Petition should be continued when the Corporate Debtor is already …

**Ratio:** A company petition becomes infructuous if the Corporate Debtor is already undergoing CIRP

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**Reasoning:** The court reasoned that continuing the present petition would be redundant and

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**Interpretation:** The interpretation is that the IBC aims for a streamlined insolvency resolution

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**Application:** Since Vijay Group Housing Private Limited was already undergoing CIRP in

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## Parties

- **Judges:** H.V. Subb…; SMT ANURADHA…
- **Appellants:** Asset Reconstructi…
- **Respondents:** VIJAY GROUP…

## Timeline

- **2022-11-15 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2022-09-30 — Admission Ord…**: Admission order dated 30.09.2022 for Company Petition bearing no. 862 of 2019, where the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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