No Merit in an Appeal Against Dismissal of Appellant’s Belated Claim That Was Already Dismissed by RP | SC
- Blog|News|Insolvency and Bankruptcy Code|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 15 September, 2023
Latest from Taxmann
Case Details: Nitin Verma v. Today Homes Noida (P.) Ltd. - [2023] 153 taxmann.com 588 (SC)
Judiciary and Counsel Details
-
- Dr Dhananjaya Y. Chandrachud, CJI, Pamidighantam Sri Narasimha & Manoj Misra, JJ.
- Anurag Jain, Mrs Preeti Taneja, Advs., Ms Tina Garg, AOR & M.K. Ghosh, Adv. for the Petitioner.
- Adhish Sharma, Nitin Pandey, Advs. & Umesh Kumar Khaitan, AOR for the Respondent.
Facts of the Case
In the instant case, a petition u/s 7 of the IBC was filed against the corporate debtor, which was admitted on 20-8-2019 and the Resolution Professional (RP) was appointed. The RP invited claims and the last date for submission of claim was 3-9-2019. Thereafter, the resolution plan submitted by ‘One Group’ was approved by the CoC on 4-3-2020.
Thereafter, certain home buyers filed their claims before RP, which was rejected by RP on the ground of delay. Therefore, such home-buyers filed an application before the Adjudicating Authority (NCLT) challenging the decision of RP but the same was dismissed. The said home-buyers further filed an appeal before the NCLAT against the order passed by the NCLT.
The said home-buyers alleged that the NCLT had committed an error in dismissing applications on the ground that the claim lodged with RP after approval of the resolution plan, was not maintainable. However, the NCLAT relied on the case SP Probuild LLP v. Rabinder Kumar Mintri [Civil Appeal No. 7907 of 2021, dated 12-1-2022] and rejected the said application.
Supreme Court Held
Then, the appellant filed an instant appeal before the Supreme Court. The Supreme Court held that in view of facts and records, the NCLAT rightly relied on the SP Probuild case (supra), in which similar issues were raised. Thus, there was hardly any merit in the instant appeal to interfere with NCLAT’s order and, thus, the same was to be dismissed.
List of Cases Reviewed
-
- Nitin Verma v. Today Homes Noida (P.) Ltd. [2023] 153 taxmann.com 587 (NCLAT – New Delhi) (para 2) affirmed [See Annex].
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
