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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
NARESH SALECHA, Judicial Member
SGN Universal Construction Company Private Limited – Appellant
Versus
Shailendra Kumar Singh – Respondent
| Table of Content |
|---|
| 1. appellant's development rights over tower 5 via agreements and court orders. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14) |
| 2. respondents deny rights; tower 5 integral to project under rera. (Para 15 , 16 , 17 , 18 , 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26) |
| 3. rp asserts code overrides; tower 5 assets post-termination. (Para 27 , 28 , 29 , 30 , 31 , 32 , 33 , 35 , 36 , 37 , 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49) |
| 4. development rights constitute property under ibc sections 3(27), 18(f). (Para 50 , 51 , 52 , 53 , 54 , 55 , 56 , 57 , 58 , 59 , 60 , 61 , 62 , 63) |
| 5. no error in impugned order; claims for rp determination. (Para 64 , 65 , 66 , 67) |
JUDGEMENT
(30.03.2026)
NARESH SALECHA, MEMBER (TECHNICAL)
1. The present appeal has been filed by the Appellant i.e., SGN Universal Construction Company Private Limited under Section 61 of the Insolvency and Bankruptcy Code, 2016 (‘Code’) against the Impugned Order dated 19.11.2024 passed by the National Company Law Tribunal, New Delhi, Court -IV (‘Adjudicating Authority’) in CP No. (IB) – 62(ND) / 2024.
Shailendra Kumar Singh and others, who are homebuyers, are Respondent No.1 to 40 herein.
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