# In the matter of Earthcon Universal Infratech Pvt.  Ltd. IA-2724-2022 in IB-1348(ND)-2019

> NCLT judgment dated 2022-06-17. Citation: TCN-2022-NCLT-04657. The application IA-2724/2022 was filed seeking directions to remove Greater Noida Industrial…

- **Court:** NCLT
- **Order date:** 17 Jun 2022
- **Citation:** TCN-2022-NCLT-04657
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/earthcon-universal-infratech-pvt-ltd-ia-2724-2022-in-ib-1348nd-2019-f56297fb

## Summary

### Background

The application IA-2724/2022 was filed seeking directions to remove Greater Noida Industrial Development Authority from the position of Financial Creditor on the CoC to that of Operational Creditor.

## Facts

The application was filed by the Petitioners seeking directions to the RP to remove Greater Noida Industrial Development Authority from the position of Financial Creditor on the CoC to that of Operational Creditor.

The Hon'ble Supreme Court has already held that Greater Noida Industrial Development Authority is an Operational Creditor and not a Financial Creditor.

The application was found to be pre-mature and infructuous.

## Issues and analysis

### Issue 1: Whether Greater Noida Industrial Development Authority can be considered a Financial Creditor in …

**Ratio:** The Hon'ble Supreme Court has already held that Greater Noida Industrial Development

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**Reasoning:** The court relied on the judgment

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**Interpretation:** The Supreme Court's

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**Application:** The Supreme Court's judgment was

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## Parties

- **Judges:** BACHU VENKAT…; Narender Kumar…
- **Appellants:** Nisus Finance &…
- **Respondents:** Earthcon Universal…
- **Other parties:** Greater Noida…
- **Advocates:** Adv Harshvardhan…; Rishabh…; +2 more

## Timeline

- **2022-06-17 — Order Del…**: Order delivered on 17.06.2022…

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