# In the matter of METCALFE PROPERTIES PRIVATE LIMITED

> NCLT judgment dated 2025-12-03. Citation: TCN-2025-NCLT-01762. M/S Metcalfe Properties Private Limited filed an application under Section 10 of the Insolvency…

- **Court:** NCLT
- **Order date:** 3 Dec 2025
- **Citation:** TCN-2025-NCLT-01762
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/metcalfe-properties-private-limited-4b199244

## Summary

### Background

M/S Metcalfe Properties Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP) against itself.

## Facts

The application was filed on 13.09.2025 under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The application was filed through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.

The Corporate Applicant was incorporated on 26.09.2002.

The Corporate Applicant has significant operational liability pertaining to dues payable to the Amritsar Development Authority (ADA) in respect of the residential project “Metcalfe Nirvana”.

The Corporate Debtor has not deposited the required External Development Charges (EDC) and license fee, aggregating to ₹34,65,24,000/-.

The Corporate Debtor is burdened with substantial tax liabilities, with outstanding statutory dues of Rs ₹1,19,85,660/-.

…

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, for …

**Ratio:** Under both Section 7 and Section 10, the two factors are common i.e. the debt is due and

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**Reasoning:** The Adjudicating Authority found that the debt is due and payable by the Corporate

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**Interpretation:** The Adjudicating Authority interpreted the provisions of Section 10 of the

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**Application:** The Adjudicating Authority applied the provisions of Section 10 of the

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Anu Jagmoha…
- **Respondents:** M/S Metcalfe…
- **Other parties:** Nishant…; Sanjay Kum…
- **Advocates:** Eshna K…; Akshita…

## Timeline

- **2002-09-26 — Incorpor…**: The Corporate Applicant…
- **2011-07-19 — License I…**: ADA issued a residential colony development…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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