NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI [Arising out of the Impugned Order dated 02.07.2025 passed by the Adjudicating Authority, National Company Law Tribunal, Chandigarh Bench in I.A. No. 603 (CH)/ 2025 in C.P. (IB) No. 248/CHD/2019]

In the matter of:

RAJEEV KHURANA S/O RAM DHAN KHURANA R/O A-402, SAI BABA APARTMENTS, SECTOR-9 ROHINI, NORTHWEST DELHI- 110085 .… Appellant Versus SH. ARVIND KUMAR, RESOLUTION PROFESSIONAL CHANDIGARH OVERSEAS PVT. LTD.

REGD. OFFICE AT:

SCO NO. 249, BASEMENT, SECOTR 44-C, CHANDIGARH – 160047 …. Respondent Present:

For Appellant : Mr. M. L. Lahoty, Sr. Advocate with Mr. Anchit Sripat, Advocate.

For Respondent : Mr. Sarjit Bhadu, Sr. Advocate with Mr. Aditya Soni, Advocate for Homebuyer.

Mr. Abhijeet Sinha, Sr. Advocate with Mr. Rajat Gautam, Advocate for ACC. J U D G M E N T (Hybrid Mode)

Per: Barun Mitra, Member (Technical)

The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellant arises out of the Order dated 02.07.2025 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench-I)

in I.A. No. 603/2025 in