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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Era Infra Engineering Ltd. – Appellant
Versus
Alok Kumar Agarwal, IRP – Respondent
| Table of Content |
|---|
| 1. background of appeals and factual events (Para 1 , 2) |
| 2. parties' arguments on debt enforceability (Para 3 , 4 , 5 , 6) |
| 3. analysis of claims and resolution plan scope (Para 7 , 8 , 9 , 10 , 11 , 12 , 13 , 14 , 15 , 16 , 17) |
| 4. separate debts not extinguished by sponsor resolution (Para 18 , 19 , 20) |
| 5. holding company locus and appeals dismissal (Para 21 , 22 , 23 , 24) |
J U D G M E N T
ASHOK BHUSHAN, J.
These appeals have been filed by Era Infrastructure Engineering Ltd. the holding company of the corporate debtor (principal borrower and corporate guarantor) challenging the order dated 04.11.2025 passed by the adjudicating authority (National Company Law Tribunal, New Delhi Bench, Court – IV) admitting Section 7 application filed by National Asset Reconstruction Company Ltd. (NARCL), the respondent No. 2 herein against the principal borrower and the corporate guarantor. By order of the same day, intervention petition filed by the appellant i.e., INV.P. No.59/2025 in C.P. (IB) No.172/2025 and in INV.P. No.60/2025 in C.P. (IB) No.774/2025 were rejected. Aggrieved by the aforesaid orders, these appeals have been filed.
2. Background facts and sequence of the events giving
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