Greater Noida Industrial Development Authority vs Prabhjit Singh Soni

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(SC) 117

D. Y. CHANDRACHUD, J. B. PARDIWALA, MANOJ MISRA
Greater Noida Industrial Development Authority – Appellant
Versus
Prabhjit Singh Soni – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Ravindra Kumar, Sr. Adv. Mr. Binay Kumar Das, AOR Ms. Priyanka Das, Adv. Ms. Neha Das, Adv. Mr. Shivam Saksena, Adv.
For the Respondent(s): Dr. Abhishek Manu Singhvi, Sr. Adv. Mr. Siddharth Bhatnagar, Sr. Adv. Mr. Vardhman Kaushik, AOR Mr. Nishant Gautam, Adv. Mr. Dhruv Joshi, Adv. Mr. Ajay Kanojia, Adv. Mr. Siddharth Seem, Adv. Mr. Mayank Sharma, Adv. Ms. Sanjana Mehrotra, Adv. Mr. Abhinav Singh, Adv. Mr. Ayush Singh, Adv. Mr. Vinay Kaushik, Adv. Mr. V M Kannan, AOR Ms. GP Madaan, Adv. Ms. Harimohana N, Adv. Mr. Aditya Madaan, Adv. Mr. Khubaib Shakeel, Adv. Mr. Naresh Kaushik, Sr. Adv. Mr. Manoj Joshi, Adv. Ms. Shikha John, Adv. Mr. Anand Singh, Adv. Mr. Shubham Dwivedi, Adv. Mrs. Lalita Kaushik, AOR

JUDGMENT :

MANOJ MISRA, J.

1. These appeals under Section 62 of the Insolvency and Bankruptcy Code, 2016¹[IBC] are directed against the judgment and order²[Order dated 24.11.2022] of the National Company Law Appellate Tribunal, Principal Bench, New Delhi³[NCLAT] passed in Company Appeal (AT) (Ins.) No. 867 of 2021 and I.A. No. 2315 of 2021, whereby the appellant’s appeal against the order of the National Company Law Tribunal, New Delhi⁴[NCLT] dated 05.04.2021 has been dismissed.

2. By the order dated 05.04.2021, NCLT had dismissed two applications filed by the appellant under Section 60(5) of the IBC, namely:

(a) I.A. No.1380/ 2021, inter alia, to recall the order dated 04.08.2020 passed by NCLT in I.A. No. 2201 (PB)/2020 in Company Petition No. (IB)-272 (ND)/ 2019; and

(b) I.A. No.344/ 2021, inter alia, questioning the decision of the Resolution Professional (hereinafter referred to as the RP) in treating the appellant as an operational creditor and not informing the appellant about the meetings of the Committee of Creditors⁵[COC].

Factual Background

3. The appellant being a statutory authority constituted under Section 3 of the U.P. Industrial Area Development Act, 1976⁶[1976 Act] acq

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2024 Supreme(SC) 117

D. Y. CHANDRACHUD, J. B. PARDIWALA, MANOJ MISRAGreater Noida Industrial Development Authority – AppellantVersusPrabhjit Singh Soni – Respondent

Cases Referred (9)

D. Y. CHANDRACHUD, J. B. PARDIWALA, MANOJ MISRA
Greater Noida Industrial Development Authority – Appellant
Versus
Prabhjit Singh Soni – Respondent