Amit Jain vs IDBI Trusteeship Services Ltd. - 2025 Supreme(Online)(NCLAT) 1468

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(Online)(NCLAT) 1468

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Amit Jain – Appellant
Versus
IDBI Trusteeship Services Ltd. – Respondent

Advocates:
For the Appellants/Petitioners:Mr. Abhijeet Sinha Sr. Advocate, Mr. Gaurav Mitra, Mr. Gaurav H. Sethi, Mr. Anmol Joshi, Mr. Rahul Kapoor, Mr. Rahul Panwar, Mr. Ashim Sood, Mr. Varun Kalra, Mr. Ekansh Gupta, Mr. Gopal Jain, Mr. Sanjeev Singh, Mr. Anish Gupta, Ms. Sandipa Bhattacharjee
For the Respondents: Mr. Krishnendu Dutta, Mr. Malak Bhatt, Ms. Neeha Nagpal, Mr. Saahil Bahety, Ms. Somya Saxena, Mr. Sumesh Dhawan, Mr. Aman Sharma, Mr. Shaurya, Mr. Sujoy Datta, Mr. Jasjeet Singh, Mr. Shubham Raghuwanshi, Mr. Harsha Gollamudi, Mr. Varad Dwevedi, Mrs. Pratima Singh

Table of Content
1. appeals against nclt's order and representation by parties. (Para 1 , 2)
2. background on mahagun (india) pvt. ltd.'s financial situation and petitions. (Para 3 , 4 , 5 , 6)
3. details of ongoing projects and their financial implications. (Para 7 , 8 , 9)
4. homebuyers' interests and implications of the cirp on multiple projects. (Para 10 , 11 , 12)
5. judicial precedents supporting project-specific resolutions. (Para 13 , 14 , 15 , 16)
6. homebuyers' rights and appeal requests regarding cirp processes. (Para 17 , 18 , 19 , 20)
7. court's analysis on procedural fairness in cirp. (Para 21 , 22)
8. final observations on project-wise insolvency resolutions. (Para 23 , 24)
9. specific orders detailing procedural directions for fresh consideration. (Para 25 , 26)
10. court's decisions on the appeals and future proceedings. (Para 27 , 28)

JUDGMENT

ASHOK BHUSHAN, J.

All these Appeal(s) (except Company Appeal No.1254 of 2025) have been filed against the same order dated 05.08.2025 passed by National Company Law Tribunal, New Delhi, Court-III in IB-112(ND)/2025. By the impugned order, the Adjudicating Authority has admitted Section 7 petition filed by IDBI Trusteeship Services Ltd. a

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2025 Supreme(Online)(NCLAT) 1468

NATIONAL COMPANY LAW APPELLATE TRIBUNALASHOK BHUSHAN, JAmit Jain – AppellantVersusIDBI Trusteeship Services Ltd. – Respondent

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Amit Jain – Appellant
Versus
IDBI Trusteeship Services Ltd. – Respondent