Navin M. Raheja vs Shravan Minocha - 2026 Supreme(Online)(NCLAT) 430

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2026 Supreme(Online)(NCLAT) 430

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Navin M. Raheja – Appellant
Versus
Shravan Minocha – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Abhijeet Sinha, Mr. P. Nagesh, Ms. Manmeet Kaur, Mr. Rohan Anand, Mr. Jai Dagra, Ms. Kholi B., Mr. Akkshya Sharma, Mr. Abhinav Vashisth, Mr. Atul Sharma, Mrs. Renuka Iyer, Mr. Anmol Bansal, Ms. Akshita, Mrs. Abilaasha, Mr. Rohit Kumar Singh, Ms. Shweta Priyadarshini, Ms. Nishi Singh, Ms. Bhagwati, Mr. Kaushik Chatterjee, Ms. Samridhi, Ms. Pranjal Mishra, Ms. Ishita Singh, Mr. Sahil Sethi, Ms. Arushi Mann, Mr. Vikash Kumar, Mr. Samriddh Bindal, Mr. Aaditya Vijaykumar, Mr. Naman Garg, Mr. Sunil Fernandes, Ms. Nishi Chaudhary, Mr. Yashartha Gupta, Mr. Kamlesh Ram, Mr. Gautam Pal, Ms. Prerna Sharma, Mr. Sunny Vashisht, Mr. Sahil Grewal, Mr. Mani Bhushan Sinha, Mr. Shashak Pathak, Mr. Siddhant Jaiswal, Mr. Ketan Madan, Mr. Priyam Kamra, Mrs. Pranjeet Kaur, Mr. Sajal Jain
For the Respondents: Mr. Manu Chaturvedi, Mr. Abhishek Anand, Mr. Karan Kohli, Ms. Palak Kalra, Mr. Aachit Sharma

Table of Content
1. project background and licensing details (Para 1)
2. parties' contentions on project-specific cirp (Para 4 , 5 , 6 , 7 , 8)
3. cirp confinement to specific real estate project (Para 10 , 11 , 12 , 13 , 14 , 15 , 16)
4. directions for claims collation and project isolation (Para 17 , 18 , 19)

J U D G M E N T

ASHOK BHUSHAN, J.

This appeal be a suspended director of the corporate debtor namely M/s. Raheja Developers Ltd. has been filed challenging the order dated 21.08.2025 passed by the adjudicating authority (National Company Law Tribunal, New Delhi Bench, Court – IV admitting a Section 7 application (C.P. (IB) No.–284/2025) filed by respondent No.1 to respondents No. 130, the creditors in a class, homebuyers of Project namely Raheja Krishna Housing Scheme.

2. Brief facts of the case necessary to be noticed for deciding the appeal are:

i. M/s. Raheja Developers Ltd. is a Real Estate Company engaged in development of Real Estate Infrastructure in State of Haryana and other places.

Comp. App. (AT) (Ins.) No. 1276 of 2025 & I.A. Nos. 5572, 5923, 5948, 5949, 6111, 6203, 6244, 6270, 6291, 6312, 6316, 6328, 6329, 6330, 6373, 6379, 6430, 6547, 6576, 6709,

ii. The corporate debtor

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2026 Supreme(Online)(NCLAT) 430

NATIONAL COMPANY LAW APPELLATE TRIBUNALASHOK BHUSHAN, JNavin M. Raheja – AppellantVersusShravan Minocha – Respondent

Cases Referred (1)

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
ASHOK BHUSHAN, J
Navin M. Raheja – Appellant
Versus
Shravan Minocha – Respondent