Page 158 - IBC Orders us 7-CA Mukesh Mohan

Order Passed by Sec 7
Hon’ble NCLT Principal Bench
IN THE NATIONAL COMPANY LAW TRIBUNAL
PRINCIPAL BENCH

C.P. (I.B.) No. 184/7/NCLT/PB/2017

Decided On: 25.09.2017

Applicant: Magma Fincorp Ltd.
VS
Respondent: Amrapali Infrastructure Pvt. Ltd.

Judges/Coram:
Hon'ble Sh. M.M. Kumar Member (J)

Counsels:
For Appellant/Petitioner/Plaintiff: Ms. Ritu Singh & Ms. Akansha Singh, Advocates

For Respondent: Mr. Alok Agarwal & Ms. Rati Tandon, Advocates

ORDER

Hon'ble Sh. M.M. Kumar Member (J)

This is a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner

claims itself to be an `Financial Creditor' and has asserted that 'financial debt' for a sum of Rs.
1,11,50,922/- (Rupees One Crore Eleven Lac Fifty Thousand Nine Hundred Twenty Two) is recoverable
as per his books of accounts. The whole amount is stated to be in default.

The necessity of going into the merit of the claim made by the petitioner has been obviated because
against the Corporate Debtor we have admitted another petition namely Bank of Baroda v. Amrapali

Infrastructure Private Limited, (IB)-123(PB)/2017) vide a_ separate order pronounced today. Another
Corporate Insolvency Process cannot be initiated against a corporate debtor undergoing a corporate
insolvency resolution process. However, it is needless to add that the petitioner would be entitled to file

his claim before the Insolvency Professional namely Mr. Rajesh Samson, registration No. IBBI/IPA-
001/IP-P00240/2017-18/10469 in accordance with law which shall be duly considered.

The Petition is disposed of in the above terms.

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