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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Indevar Pandey, Member (T)
Akshat Gupta – Appellant
Versus
Union Bank of India – Respondent
| Table of Content |
|---|
| 1. background of auction cancellation appeal. (Para 1 , 2 , 3) |
| 2. appellant's arguments on auction sanctity. (Para 4 , 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17 , 18) |
| 3. bank's res judicata and undervaluation claims. (Para 19 , 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39 , 40) |
| 4. trustee's compliance with ibc regulations. (Para 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50) |
| 5. procedural lapses in valuation and notice. (Para 51 , 52 , 53 , 54 , 55 , 56 , 57 , 58 , 59 , 60 , 61 , 62 , 63 , 64 , 65 , 66) |
| 6. prior orders and case law inapplicability. (Para 67 , 68 , 69 , 70 , 71) |
| 7. appeal dismissed, re-auction upheld. (Para 72 , 73 , 74 , 75) |
JUDGMENT
(25th March, 2026)
INDEVAR PANDEY, MEMBER (T)
The present appeal has arisen from the order dated04.07.2024passed by the National Company Law Tribunal, New Delhi, Bench-III, inIANo. 4421/2023 in CP (IB) No. 589/ND/2020, whereby the Adjudicating Authority set aside, the completed public auction sale of the 50% undivided rights of the personal guarantor Mr. Anil Syal in the residential property situated at H. No. 117, First Floor, Uday Park, New Delhi-110049. The
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