The National Company Law Tribunal allowed an application under Rule 16(d) of the NCLT Rules for transferring CIRP proceedings from Bench-II to Bench-I of the NCLT Chennai. The order consolidated connected matters to ensure uniform adjudication.
Transfer of matter C.P.(IB).No 124(CHE) of 2022 from NCLT Chennai Bench-II to NCLT Chennai Bench-I.
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.
IN THE NATIONAL COMPANY LAW TRIBUNAL
PRINCIPAL BENCH, NEW DELHI
TA (IBC)-66(PB)/2022
Under Rule 16(d) of the NCLT Rules, 2016.
IN THE MATTER OF:
M/s PIRAMAL CAPITAL AND HOUSING FINANCE LIMITED (formerly known as Devan Housing Finance Corporation Limited) …Applicant
Versus
M/s GULLS REALTORS PRIVATE LIMITED
…Respondent
Order Pronounced on: 12.01.2023
CORAM:
JUSTICE RAMALINGAM SUDHAKAR, HON'BLE PRESIDENT
PRESENT:
For the Applicant
: Ms. Deepika Murali, Adv
ORDER
Per Oral: JUSTICE RAMALINGAM SUDHAKAR
Page 1 of 4
TA (IBC)-66(PB)/2022.
M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) versus M/s Gulls Realtors Private Limited
Realtors Private Limited “Respondent” under Rule 16(d) of the NCLT Rules, 2016 seeking the following reliefs:
TA (IBC)-66(PB)/2022.
M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) versus M/s Gulls Realtors Private Limited
Subsequent to such classification, the Borrowers continued to make payments towards the EMIs for the said Loan Account albeit, not regularly.
Page 3 of 4
TA (IBC)-66(PB)/2022. M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) versus M/s Gulls Realtors Private Limited
-Sd/-
(RAMALINGAM SUDHAKAR) PRESIDENT
Page 4 of 4
TA (IBC)-66(PB)/2022. M/s Piramal Capital and Housing Finance Limited (formerly known as Devan Housing Finance Corporation Limited) versus M/s Gulls Realtors Private Limited
2 issues framed by the court
Whether a transfer of Corporate Insolvency Resolution Process (CIRP) from NCLT Chennai Bench-II to NCLT Chennai Bench-I is permissible in the interest of justice to consolidate connected matters arisi
Whether allowing the transfer application will prevent conflicting orders by different benches or ensure better adjudication of the matter.
1 provisions across 1 enactments
M/s PIRAMAL CAPITAL AND HOUSING FINANCE LIMITED
M/s GULLS REALTORS PRIVATE LIMITED
RAMALINGAM SUDHAKAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
