IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI

SPECIAL BENCH (COURT – II)

Item No.102

(IB)-468(PB) 2024

IA-4684/2024

IN THE MATTER OF:

Sammaan Capital Ltd. … Applicant

Versus

Parsvnath Developers Ltd. … Respondent

Under Section: 7 of IBC, 2016 Order delivered on 17.02.2025

CORAM:

SH. ASHOK KUMAR BHARDWAJ SH. CHARANJEET SINGH GULATI

HON’BLE MEMBER (J) HON’BLE MEMBER (T)

PRESENT:

For the FC : Adv. Sumesh Dhawn, Adv. Siddharta Joshi,

Adv. Vijwala Gupta, Adv. Shaurya Shyam

For the Respondent :

Hearing Through: VC and Physical (Hybrid) Mode

ORDER Today Ms. Pooja Saigal Ld. Sr. Counsel appearing for Corporate Debtor viz. Parasvnath Developers Ltd. handed over demand drafts for the amount of Rs. 40,00,00,000/-(Demand Draft No.-200863) and Rs.35,00,00,000/- (Demand Draft No. 200862) to Mr. Sumesh Dhawan Ld. Counsel present for the Creditors and assured that the remaining amount on which the Creditor and Corporate Debtor have agreed to settle the defaulted amount would be paid as per the schedule agreed between the Creditor and the Corporate Debtor religiously without failing. The Counsels for the parties are ad idem that if the amount of debt is not repaid as per the schedule, the Petitioner who is seeking