In the matter of Dreamz Infra India Private Limited C.P. (Ib) No.83-BB-2021
Case brief
What is this about?
This order admits a Section 7 petition filed by allottee association against Dreamz Infra India Limited to initiate CIRP. The Tribunal confined the process to the Dreamz Sneh Project, approved the appointment of an IRP, and declared moratorium.
What did the court decide?
Petition admitted for CIRP in respect of Dreamz Sneh Project; moratorium declared under Section 14; IRP Mrs. Jaya Bharuka appointed.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
Page 1 of 17
IN THE NATIONAL COMPANY LAW TRIBUNAL BENGALURU BENCH
(Exercising powers of Adjudicating Authority under
the Insolvency and Bankruptcy Code, 2016)
C.P. (IB) No.83/BB/2021 U/s 7 of I&B Code, 2016 R/w Rule 4 of I&B (AAA) Rules, 2016
In the matter of:
M/s. Dreamz Sneh Project Allottees Welfare Association
R/o Flat 303, #151, Y.S. Residency, 24th Main, 6th Cross, HSR Sector 1, Bangalore – 560 102.
… Petitioners / Financial Creditors
Versus
M/s. Dreamz Infra India Limited
Regd. Off.: #114/2, Lal Bagh Fort Road, Bangalore – 560 004. … Respondent / Corporate Debtor
Issues for consideration
3 issues framed by the court
Whether the present petition under Section 7 of the IBC satisfies the threshold limit and limitior period for admitting the corporate insolvency resolution process.
Whether the debt and default thereof are proved to initiate CIRP for the Dreamz Sneh Project specifically.
Whether the Interim Resolution Professional appointed qualifies for appointment in the ongoing insolvency proceedings.
Parties & counsel
- petitioner
M/s. Dreamz Sneh Project Allottees Welfare Association
- respondent
M/s. Dreamz Infra India Limited
Coram
T. Krishnavalli
Case details
As recorded by the court registry
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