Anand Sonbhadra vs Gulshan Sehti - 2024 Supreme(Online)(NCLAT) 1187

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2024 Supreme(Online)(NCLAT) 1187

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NARESH SALECHA, MEMBER (TECHNICAL)
Anand Sonbhadra – Appellant
Versus
Gulshan Sehti – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Abhishek Anand, Mr. Nipun Gautam, Ms. Kashish Rehan, Adv.
For the Respondents: Mr. Nakul Mohta, Mr. Puneet Pathak, Adv.

Table of Content
1. introduction of appeals and context of claims. (Para 1 , 2 , 5)
2. definition of financial creditors under the code. (Para 22 , 29 , 37)
3. arguments regarding respondents' status as genuine buyers versus speculative investors. (Para 39 , 41 , 62)
4. conclusion and affirmation of lower court's ruling. (Para 56 , 61 , 63)

JUDGEMENT

(08.05.2024)

NARESH SALECHA, MEMBER (TECHNICAL)

1. Two Appeals have been filed by Anand Sonbhadra (in short Appellant who is the Resolution Professional of Shubhkamna Buildtech Pvt. Ltd. (in short ‘Corporate Debtor’) i.e., under Section 61 of the Insolvency & Bankruptcy Code, 2016 (in short ‘Code’) in Company Appeal (AT) (Insolvency) No. 810 of 2021 and Company Appeal (AT) (Insolvency) No. 768 of 2021 against the Impugned Order dated 23.07.2021 passed by the National Company Law Tribunal, New Delhi Bench, Court No. IV (in short ‘Adjudicating Authority’)

2. It has been brought out that the Corporate Debtor went into Insolvency on 26.11.2018 as per the order of the Adjudicating Authority and the Appellant was appointed as the Interim Resolution Professional (in short ‘IRP’)/ Resolution Professional.

3. The Appellant made the public announcement