Global Lawyers Debate AI Liability in Autonomous Vehicles
03 Mar 2026
CCPA Fines Startup ₹8 Lakh for False Child Growth Claims
05 Mar 2026
Madras High Court Scoffs at Police Custody Injury Claim
05 Mar 2026
India's Criminal Investigations Face Systemic Conviction Crisis
05 Mar 2026
Kerala HC Slams TDB Financial Discipline in Ayyappa Conclave, Orders Auditor Report on Past Anomalies: High Court of Kerala
06 Mar 2026
ST Members Can Invoke Section 13B HMA If Hinduised By Customs: Chhattisgarh High Court
06 Mar 2026
Lease Cancellation Valid Even by 'In-Charge' Mining Officer Under OMMC Rules: Orissa High Court
06 Mar 2026
Ignoring Court-Mandated PWD Safety Report Invalidates Municipal Order: J&K&L High Court
06 Mar 2026
Kerala HC Reserves Verdict in Raju Tampering Conviction Plea
06 Mar 2026
Back
Next 
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Rakesh Kumar Jain, J
Shubhkamna City Welfare Association Through its Authorized Signatory & Anr. – Appellant
Versus
Shubhkamna Buildtech Pvt. Ltd. Through Resolution Professional & Anr. – Respondent
Headnote: Read headnote
JUDGMENT
Per: Justice Rakesh Kumar Jain:
This appeal has been filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (in short ‘Code’) by Shubhkamna City Welfare Association, through its Authorised Representative Ramesh Chandra Gupta and Subhkamna City Welfare Association, through its Authorised Representative Surya Kant Tyagi, for setting aside the order dated 12.09.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi) in CA No. 485 /ND/ 2019 filed in C.P. No. (IB)- 1059/ND/2018 by which an application filed by the Resolution Professional (in short ‘RP’) under Section s 30 (6) and 31(1) of the Code r/w Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (in short ‘Regulations’) seeking approval of the res
Only majority homebuyers can contest the resolution plan in insolvency proceedings, as minority members lack the legal standing to appeal.
The court upheld the validity of the resolution plan approved by the Committee of Creditors, emphasizing that allegations of related party status must be substantiated with evidence, and highlighted ....
The classification of homebuyers into 'affected' and 'unaffected' is valid under the insolvency process, ensuring fair treatment based on compliance with prior financial arrangements.
Proper classification of homebuyers into 'affected' and 'unaffected' in a Resolution Plan is justified when aligned with the regulations and majority approval from creditors.
The commercial wisdom of the Committee of Creditors prevails in approving resolution plans, and dissenting creditors cannot claim preferential treatment beyond statutory provisions.
The court established that properties owned by third parties cannot be included in the Resolution Plan, reaffirming that only assets belonging to the corporate debtor can be managed under the Insolve....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
Listen Article