# In the matter of ILD Owners Welfare Association vs. ALM Infotech City Pvt. Ltd.

> SC judgment dated 2025-06-24. Citation: TCN-2025-SC-00071. The Adjudicating Authority (NCLT, New Delhi) rejected an application under Section 7 of IBC filed…

- **Court:** SC
- **Order date:** 24 Jun 2025
- **Citation:** TCN-2025-SC-00071
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/ild-owners-welfare-association-vs-alm-infotech-city-pvt-ltd-e3e07e57

## Summary

### Background

The Adjudicating Authority (NCLT, New Delhi) rejected an application under Section 7 of IBC filed by the appellant, stating that the amount in question (IFMS) does not constitute a financial debt. This decision was affirmed by the National Company Law Appellate Tribunal.

## Facts

The Adjudicating Authority (NCLT) rejected the application under Section 7 of IBC.

The reason for rejection was that the amount in question, IFMS, does not amount to financial debt.

The National Company Law Appellate Tribunal affirmed the NCLT's view.

The Supreme Court reviewed the orders and found no good reason to entertain the Civil Appeal.

The Civil Appeal was accordingly dismissed by the Supreme Court.

Delay was condoned by the court.

## Issues and analysis

### Issue 1: Whether the amount in question (IFMS) constitutes …

**Ratio:** The NCLT and NCLAT held that the IFMS amount

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**Reasoning:** The document does not provide the specific reasoning, but it implies that the nature of

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**Interpretation:** The interpretation of 'financial debt' under Section 5(8) of the IBC is crucial

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**Application:** The principle is applied to the specific facts of the case, where IFMS is

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## Parties

- **Judges:** UJJAL B…; K. VINOD CH…
- **Appellants:** ILD Owners…
- **Respondents:** ALM Infotech City…
- **Other parties:** Affir…
- **Advocates:** Aayush…; Sweta…

## Timeline

- **2025-06-24 — Order Da…**: The Supreme Court…
- **2025-06-24 — Hearing…**: Matter called on for…

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