Dharmesh Jain vs Mr. Jayesh Sanghrajka & Anr - 2024 Supreme(Online)(NCLAT) 891

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2024 Supreme(Online)(NCLAT) 891

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Justice Ashok Bhushan (Chairperson) , Hon'ble Mr. Arun Baroka (Member (Technical)) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,
Dharmesh Jain – Appellant
Versus
Mr. Jayesh Sanghrajka & Anr – Respondent

Mr. Abhijeet Sinha, Sr. Advocate with Mr. Anuj P. Agarwala, Mr. Aayush Agarwala, Ms. Mallika Luthra, Advocates. For Respondents:Mr. Ramji Srinivasan, Sr. Advocate with Mr. Shyam Kapadia, Ms. Shikha Ginodia, Mr. Mohit Bangwan, Advocates for RP Mr. Arvind Nayyar, Sr. Advocate with Mr. Tishampati Sen, Ms. Riddhi Sancheti, Mr. Anurag Anand, Mr. Mukul Kulhari, Mr. Akshay Joshi, Advocates for R2 Mr. Arun Kathpalia, Sr. Advocate with Mr. Denzil Arambhan, Mr. Pranaya Goyal, Ms. Ria Nandini, Ms. Apoorva Kaushik, Mr. Himanshu Shembekar, Mr. Omm Mitra, Mr. Yash Sethna, Advocates for CoC.

JUDGMENT

(29th October, 2024)

Ashok Bhushan, J.

These two Appeals have been filed by the same Appellant challenging two orders passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench in the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor- ‘Nirmal Lifestyle Realty Private Limited’. Company Appeal (AT) (Insolvency) No.825 of 2024 has been filed challenging the order dated 07.03.2024 passed in IA No.3689 of 2022 filed by the Appellant/ Applicant by which the IA No.3689 of 2022 has been rejected. Company Appeal (AT) (Insolvency) No. 1821 of 2024 has been filed by the Appellant challenging the order dated 09.08.2024 by which order Adjudicating Authority has allowed IA No.2455 of 2022 filed by the Resolution Professional for approval of the Resolution Plan.

2. Brief facts of the case necessary to be noticed for deciding these Appeals are:-

2.1. The Corporate Debtor- ‘Nirmal Lifestyle Realty Private Limited’ entered into MoU with Ralliwolf Limited on 01.10.2004 in terms whereof Ralliwolf agreed to sell land admeasuring 20262 sq. mtrs. situated at LBS Marg, Mulund (West), Village Nahur, Taluka and Registration Sub-District Kurla, District Mumbai

Click Here to Read the rest of this document

2024 Supreme(Online)(NCLAT) 891

NATIONAL COMPANY LAW APPELLATE TRIBUNALJustice Ashok Bhushan (Chairperson) , Hon'ble Mr. Arun Baroka (Member (Technical)) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,Dharmesh Jain – AppellantVersusMr. Jayesh Sanghrajka & Anr – Respondent

Cases Referred (4)

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Justice Ashok Bhushan (Chairperson) , Hon'ble Mr. Arun Baroka (Member (Technical)) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,
Dharmesh Jain – Appellant
Versus
Mr. Jayesh Sanghrajka & Anr – Respondent