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NATIONAL COMPANY LAW TRIBUNAL
Khetrabasi Biswal, J, Shishir Agarwal, Technical Member
Hemant Yadav – Appellant
Versus
IDBI Trusteeship Services Limited – Respondent
| Table of Content |
|---|
| 1. nature of the application under section 65 (Para 1) |
| 2. homebuyers argue misuse of insolvency proceedings (Para 2 , 3 , 4 , 5) |
| 3. analysis of locus standi for homebuyers (Para 6 , 7 , 8 , 9 , 10 , 11 , 12 , 13) |
| 4. non-issuance of noc and its implications on insolvency proceedings (Para 14 , 15 , 16 , 17 , 18) |
| 5. judgment not supporting claims of malicious intent (Para 19 , 20 , 21 , 22 , 23) |
| 6. dismissal of application without costs (Para 24 , 25) |
ORDER
1. The present Interlocutory Application has been filed by Mr. Hemant Yadav and others (hereinafter referred to as the “Applicants”) under Section 65 of the Insolvency and Bankruptcy Code, 2016 (“the Code”), seeking a declaration that the petition bearing CP(IB) No. 45/CHD/HRY/2024, filed by IDBI Trusteeship Services Limited (“Respondent No. 1”) under Section 7 of the Code against M/s Vatika Limited (“Respondent No. 2”/“Corporate Debtor”), has been initiated fraudulently and with malicious intent for a purpose other than the resolution of insolvency. The Applicants, being homebuyers and allottees in the RERA- approved affordable housing project “Aspiration”, Sector 88B, Gurugram, developed under the Deen Dayal Jan Awas
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