IN THE NATIONAL COMPANY LAW TRIBUNAL NEW DELHI

SPECIAL BENCH (COURT – II)

Item No.206

IB-297/ND/2023

IA -50/ND/2024, IA-4253/ND/2024, IA-4904/ND/2025

IN THE MATTER OF IB-297/ND/2023:

INDIAN BANK

(A Government of India Enterprise)

Stressed Assets Management,

Large Branch, 17, Parliament Street

New Delhi-110001

… Financial Creditor

Versus

M/S ANSAL PROPERTIES AND … Corporate Debtor

INFRASTRUCTURE LTD.

AND IN THE MATTER OF IA-50/ND/2024:

NAVNEET KUMAR GUPTA

IBBI Reg. No.: IBBI/IPA-001/IP-P00001/2016-17/10009

Address: Unit 2, Block D1, Golf Link,

Sector 23B, Dwarka, New Delhi-110077 ... Applicant

VERSUS

APEX HEIGHTS PRIVATE LIMITED

Having office at:

S-672, School Block, Shakarpur, Delhi - 110092 ... Respondent No 1

GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY

Having office at:

Plot no. 1, Knowledge Park-IV

Uttar Pradesh-201308 ... Respondent no. 2

DEPARTMENT OF REVENUE,

Government of Uttar Pradesh

Through Secretary

VW4J+42F, Kaiserbagh Cir, Near DM Office,

DM Compound Colony, Kaiserbagh Officer's Colony,

Qaisar Bagh, Lucknow, Uttar Pradesh 226004

... Respondent No.3

THE PRINCIPAL COMMISSIONER

CGST/SGST

7-A Ashok Marg, Hazratganj,

Lucknow, Uttar Pradesh 226001 ... Respondent no.4

AND IN THE MATTER OF IA-4253/ND/2024:

1. MR. NAVNEET KUMAR GUPTA IBBI Reg. No. IBBI/IPA-001/IP-P00001/2016-2017/10009 Address: Unit 2, Block D1, Golf Link, Sector 23B, Dwarka, New Delhi 110077 …Resolution Professional/Applicant VERSUS

1. PRANAV ANSAL Address: 26, Ferozeshah Road New Delhi, Central Delhi, New Delhi, Delhi India- 110001 …Respondent No. 1

2. Prashant Kumar Flat No.-30, Shree Radha Apartment Plot No.3 Sector 9 Dwarka-110077 …Respondent No.2

3. Abdul Sami

136, SFS Flat, Phase- 4, Ashok Vihar, Delhi-110052 …Respondent No.3 AND IN THE MATTER OF IA-4904/ND/2025:

IIFL HOME FINANCE LIMITED (Formerly known as India lnfolinc Housing Finance Limited)

Through its Authorised Representative, Ms. Mani Kapoor Corporate Office at:

Plot No. 98, Udyog Vihar, Phase IV, Sector 18, Gurgaon, Haryana – 122016 ...Applicant VERSUS NAVNEET KUMAR GUPTA Resolution Professional, M/s Ansal Properties and Infrastructure Pvt. Ltd. Unit 2, Block D 1, Golf Link, Sector 23B, Dwarka, New Delhi - 110077 Email: ... Respondent No. 1 APEX HEIGHTS PRIVATE LIMITED Successful Resolution Applicant, Through its Chief Human Resource Manager & Legal Head. Mr. Vikas Goel Corporate Office at S-672 School Block, East Delhi. Shakarpur, Delhi. India, 110092 ... Respondent No. 2 Under Section: 7 of IBC, 2016 Order delivered on 06.10.2025 CORAM:

SH. ASHOK KUMAR BHARDWAJ SH.RAVINDRA CHATURVEDI HON’BLE MEMBER (J) HON’BLE MEMBER (T)

PRESENT:

For the Applicant : Adv. Aditya Madaan and Adv. Prabhav Pachory &

Adv. Digvijay Sahni, for IIFL in IA 4904 of 2025 For the Respondent : Adv. Mohit Chaudhary, Adv. Raghav Dikshit, Adv.

Nimmi B. in IA-4113/2025, and IA-4116/2025 Adv. Manan Batra and Adv. Bharti Bhatt in IA-

4253/2024 for R-3 Adv. U.N. Singh for R-2 in IA-50/2024 Adv. Neeha Nagpal, Adv. Malak Bhatt, Adv. Nikunj Mahajan for R-1 in IA 4253/2024 For the RP : Adv. Sumesh Dhawan, Adv. Vatsala Kak, Adv.

Kavya Tekriwal For the SRA : Sr. Adv. P. Nagesh, Adv. Akshay Sharma For the Indian bank : Adv. Rajesh Kumar Gautam, Adv. Azal Aekram, Adv. Hanu Parashar Hearing Through: VC and Physical (Hybrid) Mode ORDER IA-/50/ND/2024:

1. The present application has been preferred under Section 30(6) of IBC, 2016 for approval of the Resolution Plan, which has already been approved by the CoC with 100 % vote shares.

2. As can be seen from the Part-IV of CP(IB)-297/ND/2023, the amount of debt defaulted to be paid by the corporate debtor to the financial creditor i.e. Indian Bank was Rs. 257,77,22,173.50/-. Part-IV of the application reads thus:

3. This Tribunal, vide order dated 20.10.2023, admitted the CIRP application qua the Corporate Debtor viz., Serene Residency Group Housing Project.

4. The Applicant i.e. RP has enumerated the factual development/progress qua the process in the application. In response to the invitation for expression of interest, as many as 11 bidders