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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Ashmeet Singh Bhatia – Appellant
Versus
Pragati Impex India Private Limited – Respondent
| Table of Content |
|---|
| 1. appellant challenges cirp order citing collusion. (Para 1 , 3) |
| 2. arguments revolve around fraudulent debt initiation. (Para 4 , 7) |
| 3. court observes necessity for deeper examination. (Para 5 , 9) |
| 4. jurisdiction confirmed for assessing fraudulent claims. (Para 16 , 20) |
| 5. application for review of i.a. 4654 is revived. (Para 21) |
JUDGMENT
ASHOK BHUSHAN, J.
1. This Appeal has been filed challenging the Order dated 01.09.2023 passed by National Company Law Tribunal, New Delhi, Special Bench, Cont’d…/Court-II (hereinafter referred to as “The Adjudicating Authority”) in I.A. No. 4654 of 2023 in CP(IB) No. 662/ND/2021. By the Impugned, Order, Intervention Application filed by the Appellant praying for certain reliefs have been rejected.
2. Appellant aggrieved by the said order has come up in this Appeal.
3. Brief facts necessary for deciding this Appeal are:-
I. The Appellant in this Appeal is a home-buyer having allotted residential apartment in the Group Housing Project ‘Lotus Panache’ of Granite Gate Properties Private Limited (GGPPL in short). Allotment Letter was issued on 01.12.2011 by GGPPL.
II. A ‘Corporate Insolvency Resolution Process’ commenced against a group company
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