# M/S Metcalfe Properties Private Limited vs. N/A

> NCLT judgment dated 2025-12-03. Citation: TCN-2025-NCLT-01804. The present petition was filed by M/s Metcalfe Properties Private Limited, the Corporate…

- **Court:** NCLT
- **Order date:** 3 Dec 2025
- **Citation:** TCN-2025-NCLT-01804
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ms-metcalfe-properties-private-limited-a641c2d5

## Summary

### Background

The present petition was filed by M/s Metcalfe Properties Private Limited, the Corporate Applicant, on 13.09.2025 under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process (CIRP) against itself. The application was filed through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.

## Facts

M/s Metcalfe Properties Private Limited filed a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP against itself.

The application was filed on 13.09.2025 through its Director, Nishant Gupta, authorized vide Board Resolution dated 04.06.2025.

The Corporate Applicant was incorporated on 26.09.2002 and is engaged in real estate development, property acquisition, and infrastructure construction.

The Company has a significant operational liability pertaining to dues payable to the Amritsar Development Authority (ADA) in respect of the Corporate Debtor's 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/-.

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## Issues and analysis

### Issue 1: Admission of Application …

**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 law laid down by the Hon'ble Supreme Court in “Innoventive Industries Ltd. (Supra) is

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**Interpretation:** The Adjudicating Authority has to admit the application if it is satisfied that

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**Application:** In the present case, the Applicant has proved that the debt is due and there is

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; Anu Jagmoha…
- **Respondents:** M/S Metcalfe…
- **Other parties:** Insolvency and…; Corporate…; +6 more
- **Advocates:** Eshna K…; Akshita…

## Timeline

- **2025-09-13 — Application…**: M/s Metcalfe Properties Private Limited filed the petition under Section 10 of the…
- **2025-04-06 — Board Resolut…**: Board Resolution passed authorizing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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