Back
NATIONAL COMPANY LAW TRIBUNAL
Praveen Gupta, Member (Judicial), Ashish Verma, Member (Technical)
Rachna Mehra – Appellant
Versus
MR. BHUVAN MADAN – Respondent
| Table of Content |
|---|
| 1. application filed by homebuyers under the insolvency code. (Para 1 , 2) |
| 2. arguments against classification and refund orders. (Para 3 , 5 , 6) |
| 3. court's observation on rera's decision and implications. (Para 4 , 8 , 9 , 10 , 11 , 12 , 13) |
| 4. final entitlement limited to the relief of refund. (Para 15 , 16) |
| 5. final decision by the court. (Para 17) |
ORDER
1. This present application is filed on 19.02.2025, by 7 Homebuyers/allotees namely:- Rachna Mehra, Rajiv Mehra, Anil Nagpal, Atul Nagpal, Gama Investments Pvt. Ltd., Anuj Mehra and Rakesh Mehra (hereinafter collectively referred as “Applicants”) under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (“Code”) read with Rule 11 of NCLT Rules, 2016 against the Resolution Professional (hereinafter referred as “Respondent/RP”) of Jaiprakash Associates Limited i.e., Corporate Debtor. The Applicant inter alia seeks the following prayers:
“(1) Pass an appropriate order setting aside the Impugned decision dated 30-8-2024 and 27-9-2024 and the subsequent undated Note/decision circulated on 4.10.2024 by RP thereby cancelling units of the Applicants.
(2) Pass an ad interim order directing the Resolution Professional not
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
