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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Arun Baroka, Member (Technical)
Pradeep Upadhyay Liquidator M/s Dugal Associates Private Limited Under Liquidation – Appellant
Versus
Bhadohi Industrial Development Authority (BIDA) – Respondent
| Table of Content |
|---|
| 1. appeal against nclt ruling under ibc. (Para 1 , 2) |
| 2. (Para 3 , 4 , 5) |
| 3. argument about the impact of insolvency on contract termination. (Para 6 , 7 , 8) |
| 4. court ruling clarifying limitations on nclt powers. (Para 22 , 23 , 24) |
| 5. final dismissal of appeal. (Para 25 , 26) |
JUDGMENT
(Hybrid Mode)
[Per: Arun Baroka, Member (Technical)]
The present Appeal has been filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) against the impugned order dated 06.06.2025 of Hon'ble National Company Law Tribunal, New Delhi, Court-IV passed in Application bearing IA/1619/ND/2020 IN CP IB/1581/ND/2019.
2. The Appellant seeks to set aside or modify the order dated June 6, 2025, passed by the Learned NCLT, New Delhi, Court-IV, in IA 1619/ND/2020 in CP (IB) 1581/ND/2019. They also request that the Respondent be directed to remove the blacklisting imposed on the Corporate Debtor. Furthermore, the Appellant prays for the release of retention money amounting to approximately Rs. 27,14,940, which is currently held by the Respondent, along with the release of the final payment of around Rs. 36,40,441.61 for the work completed. Beyond these specific monetary reliefs, the
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