# In the matter of Jaipuria Buildcon Private Limited Company Petition (IB)- 173 (PB)-2021

> NCLT judgment dated 2022-06-02. Citation: TCN-2022-NCLT-04715. IIFL Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 2 Jun 2022
- **Citation:** TCN-2022-NCLT-04715
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/jaipuria-buildcon-private-limited-company-petition-ib-173-pb-2021-914364ff

## Summary

### Background

IIFL Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Jaipuria Buildcon Pvt. Ltd.

## Facts

IIFL Finance Limited filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The petition was against Jaipuria Buildcon Pvt. Ltd.

IIFL Finance Limited is the Financial Creditor.

Jaipuria Buildcon Pvt. Ltd. is the Corporate Debtor.

Another petition, (IB)-48(PB)/2020 titled Pallavi Gupta and Anr Vs. M/s Jaipuria Buildcon Private Limited, was already admitted vide order dated 02.06.2022.

The Petitioner is directed to file his claim before the appointed Insolvency Resolution Professional, Mr. Vikas Kumar Garg.

## Issues and analysis

### Issue 1: Whether the petition filed by IIFL Finance Limited under Section 7 of the Insolvency and Bankruptcy …

**Ratio:** The petition is

…

**Reasoning:** The court has already admitted another

…

**Interpretation:** The court is not proceeding with this petition as another petition against the

…

**Application:** The decision implies that multiple petitions against the same Corporate Debtor

…

## Parties

- **Judges:** Ramalingam…; HEMANT KUMAR…; +1 more
- **Appellants:** IIFL FINANCE…
- **Respondents:** Jaipuria Buildcon…
- **Other parties:** Vikas Kuma…
- **Advocates:** Pallav S…; Abdul W…; +1 more

## Timeline

- **2022-06-02 — Order Da…**: Order delivered on…

## 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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