# In the matter of IVRCL Chengapalli Tollways Ltd. IA (IBC)-432-2022 in Company Petition IB-28-2022

> NCLT judgment dated 2022-05-04. Citation: TCN-2022-NCLT-04859. The case involves an application (IA(IBC)/432/2022) filed in relation to a company petition…

- **Court:** NCLT
- **Order date:** 4 May 2022
- **Citation:** TCN-2022-NCLT-04859
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/ivrcl-chengapalli-tollways-ltd-ia-ibc-432-2022-in-company-petition-ib-28-2022-5d2df693

## Summary

### Background

The case involves an application (IA(IBC)/432/2022) filed in relation to a company petition (IB/28/2022) concerning IVRCL Chengapalli Tollyways Ltd. The application pertains to taking on record the AFA (presumably Affidavit) of the IRP appointed in the case of the Corporate Debtor.

## Facts

IA(IBC)/432/2022 was filed in Company Petition IB/28/2022.

The Company involved is IVRCL Chengapalli Tollyways Ltd.

Assets Care Reconstruction Enterprises Ltd is the Petitioner.

IVRCL Chengapalli Tollyways Ltd is the Respondent.

The application is under Section 7 of IBC.

The IA was filed to take on record the AFA of the IRP.

The Corporate Debtor's admission order was dated 20.04.2022.

The IA(IBC)/432/2022 was disposed of as allowed.

## Issues and analysis

### Issue 1: Whether the AFA of the IRP …

**Ratio:** The court allowed the application,

…

**Reasoning:** The reasoning is not explicitly stated but can be inferred that the court found the AFA

…

**Interpretation:** The court interprets the IBC provisions to allow for the formal recording of

…

**Application:** The court applied the relevant provisions to the specific facts of the case,

…

## Parties

- **Judges:** Bhaskara Pantula…; BINOD KUMAR…
- **Appellants:** Assets Care…
- **Respondents:** IVRCL Chengapalli…

## Timeline

- **2022-04-20 — Admission…**: Order of admission of…
- **2022-05-04 — Hearing…**: Hearing held on 04.05.2022 at…

## 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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