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IN THE NATIONAL COMPANY LAW TRIBUNAL

MUMBAI - BENCH-II

IN

CP No. 364/MB/2021

[Under Sections 60 (5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of NCLT Rules,

2016}

IA 1264 OF 2025

NITINKUMAR CHUNILAL ADANI

804, Dharam Palace, Near Parle Point,

Surat, Gujarat: 395007 … Applicant

V/s

PANKAJ RAMDAS MAJITHIA

RP of E Commerce Magnum Solution Limited,

Suite No. 301, 304, Metro Avenue,

Opposite Gurunanak Petrol Pump,

Near Magicbricks Weh Metro Station,

Andheri East, Mumbai 400069 …Respondent

IA 1297 OF 2025

NITINKUMAR CHUNILAL ADANI … Applicant

V/s

PANKAJ RAMDAS MAJITHIA … Respondent

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-II

I.A. 1264/2025, I.A. 1297/2025

In C.P. No.364/2021

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In the matter of

J.C. FLOWERS ASSET RECONSTRUCTION PRIVATE LIMITED

…Financial Creditor

V/s

E COMMERCE MAGNUM SOLUTION LIMITED

…Corporate Debtor

Pronounced on: 30.01.2026

CORAM:

HON’BLE SHRI ASHISH KALIA, MEMBER (JUDICIAL)

HON’BLE SHRI SANJIV DUTT, MEMBER (TECHNICAL)

Appearances: Hybrid

Applicant : Adv. Yahya Batatawala

Respondent : Adv. Khushboo Shah Rajani I/b.AKR Legal

______________________________________________________________________

COMMON ORDER

[PER: : ASHISH KALIA, MEMBER (JUDICIAL)]

1. BACKGROUND

1.1. The facts and contentions in the above-mentioned Interlocutory Applications are

similar and identical, and therefore they are being dealt together in the common

order.

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-II

I.A. 1264/2025, I.A. 1297/2025

In C.P. No.364/2021

______________________________________________________________________

1.2.Both the Applications were filed on 22.02.2025 under Section 60 (5) of the

Insolvency and Bankruptcy Code 2016 (“Code”) by Mr. Nitin Chunilal Adani

(hereinafter referred to as “the Applicant”) against Mr. Pankaj Ramandas Majithia

(hereinafter referred to as “the Respondent/RP”) all seeking the following

common reliefs:-

Common Interim Reliefs -

a) “Pending the hearing and final disposal of the Captioned IA,

this Hon’ble Tribunal be pleased to direct the Respondent

and CoC not to vote upon the Resolution Plan, if any;

b) Pending the hearing and final disposal of the Captioned IA,

this Hon’ble Tribunal be pleased to stay conducting of any

CoC Meetings of the Corporate Debtor.”

Common Final Reliefs -

a) “To allow the present Interlocutory Application;

b) To direct the Respondent to verify the claim of the Applicant

and accordingly, approve the same;

c) To pass such Order or Orders as this Hon'ble Tribunal may

deem expedient.”

2. AVERMENTS OF THE APPLICANT

2.1.In both the applications, the Applicant has prayed that his claim should be verified

by the RP and approved.

2.2. In I.A. 1297/2025, in order to prove his claim, the Applicant has filed Bank

Statements showing that an amount of Rs. 8,50,00,000/- (Eight Crores Fifty

Lakhs Only) was disbursed to the Corporate Debtor on 25.02.2011 through

RTGS. Subsequently, the amount to the tune of Rs. 7,00,00,000/- (Seven Crores

Only) was refunded back to the Applicant on 08.08.2011 and the remaining

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IN THE NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH-II

I.A. 1264/2025, I.A. 1297/2025

In C.P. No.364/2021

______________________________________________________________________

amount to the tune of Rs. 1,50,00,000/- (One Crore Fifty Lakhs Only) was left

unpaid by the Corporate Debtor.

2.3.Subsequently, due to delay in repayment, the Corporate Debtor vide its letter

dated 14.09.2018 agreed to pay interest of 15%p.a. till the date of repayment.

Also, the CD issued allotment letter in favour of Applicant’s family members

amounting to Rs. 3,36,00,000/- (Three crore Thirty-Six Lakhs only).

2.4.In I.A. 1264/2025, in order to prove his claim of 48,00,000/- (Forty-Eight Lakhs),

the Applicant have filed an allotment letter and also claimed that the payment

was adjusted from the above-mentioned remaining loan amount disbursed by the

Applicant.

2.5.By virtue of the said Allotment Letter, the Corporate Deb