JUDGEMENT

ASHOK BHUSHAN, J. This Appeal has been filed against the order dated 09.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal), -2- New Delhi, Bench V by which order the Section 7 application filed by the Appellant has been dismissed as barred by time. Brief facts of the case giving rise to this Appeal are:

(i) The Respondent – Corporate Debtor through its Director Mr.

D. K. Gupta entered into a Memorandum of Understanding (MOU) dated 07.08.2013 with M/s Airwil JKM Infrastructure Pvt. Ltd. for carrying development on the land owned by the Corporate Debtor situated at Sector 135, Noida, Distt. Gautam Budh Nagar.

(ii) The Infrastructure Company i.e. M/s Airwil JKM Infrastructure Pvt. Ltd. alongwith the Financial Creditor and the affiliate companies paid a sum of Rs.15 Crores in terms of the MOU and an additional amount of Rs.1.75 Crores was also paid.

(iii) Out of the above amount of Rs.16.75 Crores, the Financial Creditor namely JKM Infrastructure Pvt. Ltd. (Appellant herein) paid Rs.2.75 Crores. The Corporate Debtor could not acquire/amalgamate the Plot No. 10 as required in terms of the MOU dated 07.08.2013. The Corporate Debtor havi