JUDGMENT :

Sudhansu Jyoti Mukhopadhaya, J.

The Appellant, allottee of Real Estate, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘I&B Code’ for short) for initiation of ‘Corporate Insolvency Resolution Process’ jointly against 1st and 2nd Respondents- (‘Corporate Debtor’). The Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, New Delhi, rejected the application by impugned order dated 12th March, 2018 on the ground that the application under Section 7 of the ‘I&B Code’ cannot be filed jointly against the two ‘Corporate Debtors’, with following observations :

“9. Submissions made by the Ld. Counsel appearing for Corporate Debtor No.1 merit consideration. The present petition suffers from several infirmities. The payment is alleged to be made to Corporate Debtor No.2 while Insolvency Resolution Process is sought to initiated against Corporate Debtor No.1 and 2. There is no provision under the Code where a petition for Insolvency Resolution Process can be initiated against two Corporate Debtors who have collaborated for a Joint Venture. Even otherwise, it is seen that this petition does not adhere to the format required under th