THE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI COURT-III

Item No.02

IB-906(ND)/2022

IN THE MATTER OF:

M/s. KOHINOOR APPARELS PVT LTD & ORS.

…… Applicants/Financial Creditors

Versus

M/s. ATS INFRASTRUCTURE LIMITED

…… Respondent/Corporate Debtor

Order Pronounced On: 09.06.2023

CORAM:

SHRI BACHU VENKAT BALARAM DAS, HON'BLE MEMBER (JUDICIAL)

SHRI ATUL CHATURVEDI, HON'BLE MEMBER (TECHNICAL)

APPEARANCES:

For the Applicant : Mr. Piyush Singh, Mr. Akshay Srivastava,

Mr. Adithya Ramani, Ms. Riddhi Jain, Advs.

For the Respondent : Mr. Krish Kalra, Adv.

ORDER

Order pronounced in open court vide separate sheets. (IB)–906(ND)/2022 is

dismissed

-SD- -SD-

(ATUL CHATURVEDI)

MEMBER (TECHNICAL)

(BACHU VENKAT BALARAM DAS)

MEMBER (JUDICIAL)

M/s. Kohinoor Apparels Pvt Ltd & Ors vs. M/s. ATS Infrastructure Ltd.

(IB) – 906(ND)/2022

Date of Order : 09.06.2023

Page 1 of 24

IN THE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI, COURT-III

(IB) – 906(ND)/2022

Order under Section 7 of the Insolvency and Bankruptcy Code, 2016

read with Rule 4 of the Insolvency and Bankruptcy (Application to

Adjudicating Authority) Rules, 2016.

IN THE MATTER OF:

M/s. KOHINOOR APPARELS PVT LTD & ORS.

…… Applicants/Financial Creditors

VERSUS

M/s. ATS INFRASTRUCTURE LTD.

…… Respondent/Corporate Debtor

MEMO OF PARTIES

M/s. KOHINOOR APPARELS PVT LTD & ORS.

1. M/s. KOHINOOR APPARELS PRIVATE LIMITED

Having Its Registered Office at:

D-17, Maharani Bagh, New Delhi-110065.

…… Financial Creditor No. 1

2. Mr. VIPUL GUPTA

S/o Mr. S.P. Gupta

R/o K-115, S.D.A,

Hauz Khas, South West Delhi-110016.

…… Financial Creditor No. 2

3. Mr. VIPUL NAGPAL

S/o Mr. Darshan Lal Nagpal

R/o 1015B, Magnolias,

Golf Course Road, Gurgaon, Haryana-122003.

…… Financial Creditor No. 3

VERSUS

M/s. Kohinoor Apparels Pvt Ltd & Ors vs. M/s. ATS Infrastructure Ltd.

(IB) – 906(ND)/2022

Date of Order : 09.06.2023

Page 2 of 24

M/s. ATS INFRASTRUCTURE LTD.

Having Its Registered Office at:

711/92, Deepali, Nehru Place,

New Delhi, Delhi- 110019.

…… Respondent/Corporate Debtor

Order Pronounced On: 09.06.2023

CORAM:

SHRI BACHU VENKAT BALARAM DAS, HON'BLE MEMBER

(JUDICIAL)

SHRI ATUL CHATURVEDI, HON'BLE MEMBER (TECHNICAL)

APPEARANCES:

For the Applicant

: Mr. Piyush Singh, Mr. Akshay Srivastava, Ms.

Riddhi Jain, Advocates

For the Respondent : Mr. Krish Kalra, Advocate

ORDER

PER: BACHU VENKAT BALARAM DAS, MEMBER (JUDICIAL)

Description of the Parties:

1. This Application has been filed by M/s. KOHINOOR APPARELS PVT

LTD & 2 ORS., the Financial Creditors (FC)/Applicants on

14.11.2022, before this Adjudicating Authority, under Section 7 of

the Insolvency and Bankruptcy Code, 2016 (“IBC” or “the Code”) r/w

Rule 4 of the Insolvency and Bankruptcy (Application to

Adjudicating Authority) Rules, 2016, (“Adjudicating Authority

Rules”), for initiating the Corporate Insolvency Resolution Process

(“CIRP”), declaring moratorium and for appointment of Interim

Resolution Professional (“IRP”), against the Corporate Debtor

(CD)/Respondent viz., M/s. ATS INFRASTRUCTURE LTD., on the

ground that the Corporate Debtor has defaulted to make a Payment

of a sum of Rs. 11,42,34,311/- [(Rupees Eleven Crore Forty Two

Lakh Thirty Four Thousand Three Hundred and Eleven Only)

M/s. Kohinoor Apparels Pvt Ltd & Ors vs. M/s. ATS Infrastructure Ltd.

(IB) – 906(ND)/2022

Date of Order : 09.06.2023

Page 3 of 24

Rs.11,09,57,715/- of Principal amount along with Rs.32,76,596/-

of Interest amount] as on 09.09.2022.

2. The Applicant Company namely M/s. KOHINOOR APPARELS PVT

LTD was incorporated on 28.05.1993, as a Company Lim