JUDGEMENT

(21.07.2025)

NARESH SALECHA, MEMBER (TECHNICAL)

1. There are eight appeals with 18 IAs before us arising out of three Impugned Orders dated 02.05.2024 under section 61 of the Insolvency & Bankruptcy Code, 2016 (in short ‘Code’) passed by National Company Law Tribunal, New Delhi Bench, (in short ‘Adjudicating Authority’) in IA No. 5238 of 2023 in C.P. No 1348/ND/2019, IA No. 4466 of 2023 in C.P. No-1348/ND/2019 and IA No. 5125 of 2023 in C.P. No-1348/ND/2019.

2. Details of IAs dealt by the Adjudicating Authority in the three impugned order dated 02.05.2024 are as follows:

(i) IA-5238/2023 in IB-1348/ND/2019- M/s. Nisus Finance & Investment Managers LLP & Anr. challenged the Resolution Plan for M/s. Earthcon Universal Infratech Pvt. Ltd. under the code alleging the Successful Resolution Applicant (SRA), a consortium of M/s. D.S. Infraheights Pvt. Ltd. and M/s. Anand Buildtech Pvt. Ltd., was ineligible due to misrepresentations. Issues included false claims about the "Luvnest" project (developed by another entity per RERA), incomplete "Urban Woods" project with illegal constructions, and an invalid HDFC Bank commitment letter, reducing the SRA’s claimed project delivery below the