JITEN S GADA & Ors. vs MR MANOJ KUMAR AGARWAL & Ors.

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2024 Supreme(Online)(NCLAT) 143

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Justice Ashok Bhushan (Chairperson) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,
JITEN S GADA & Ors. – Appellant
Versus
MR MANOJ KUMAR AGARWAL & Ors. – Respondent

Advocates:
Mr. Krishnendu Dutta, Sr. Advocate, Akshay Gosavi, Mr. Kumar Anurag Singh, Mr. Kartik Sandal, Ms. Raveena Devan, Mr. Avaneesh Jaiswal, Mr. Zain A. Khan, Mr. Anish Ahlawat, Mr. Abhijeet Sinha, Sr. Advocate, Mr. Varun Kalra, Mr. Samir Malik, Mr. Akash Chatterjee, Mr. Pranav Khanna, Mr. Neeraj Kishan Kaul, Mr. Arvind Nayar, Sr. Advocate, Mr. Puneet Singh Bindra, Mr. Akshay Doctor, Mr. Parag Sawant, Mr. Akshay Sharma, Mr. Akshay Joshi, Mr. Rishabh Gupta, Ms. Mehreen Garg, Mr. Sandeep Bajaj, Mr. Naman Tandon, Ms. Adya Singh, Mr. P. Nagesh, Sr. Advocate, Mr. Shahan Ulla, Mr. Shikher Deep Aggarwal, Mr. Kushal Choudhary, Mr. Angad Ahluwalia, Mr. Jatin Verma, Mr. Chaitanya Nikte, Mr. Anuj Tiwari, Ms. Aroshi Pal, Mr. Kunal Cheema, Mr. Apporv Shukla, Mr. Raghav Deshpande, Mr. Shubham Chandankhede, Mr. Puneet Chahar, Ms. Prableen A. Shukla, Mr. Anand Singh Sanjor, Mr. Akash Chatterjee, Mr. B.P. Singh, Mr. Sameer Sethi, Ms. Ira Mahajan, Ms. Pritha Suri, Mr. Jonathan Jose.

JUDGEMENT

ASHOK BHUSHAN, J. The Appeal(s) have been filed against the – (i) Order dated 23.06.2023 passed by National Company Law Tribunal, Mumbai Bench-I in IA No.1950 of 2021 filed by the Resolution Professional (“RP”), by which order Resolution Plan submitted by Ashdan Properties Pvt. Ltd.; Classic Promoters and Builders Pvt. Ltd. and Atul Builders India Pvt. Ltd. (in Consortium) have been approved by the Adjudicating Authority in respect of the Corporate Insolvency Resolution Process (“CIRP”) of D.S. Kulkarni Developers Ltd. (the Corporate Debtor); and (ii) Orders dated 01.08.2023, rejecting the IA’s filed by Homebuyers as infructuous consequent to order dated 23.06.2023.

2. The above Appeal(s) have been filed by Promoters of the Corporate Debtor; other Group Entities; Operational Creditors; Employees and Homebuyers of the Corporate Debtor. For convenience, the Appeal(s) can be divided in three groups namely – Group-I, Group-II and Group-III.

Group-I (1) Company Appeal (AT) (Insolvency) No. 63 of 2024 - Deepak Sakharam Kulkarni & Anr. (Promoter);

(2) Company Appeal (AT) (Insolvency) No. 1142 of 2023 - Shirish Deepak Kulkarni (Promoter);

(3) Company Appeal (AT) (Insolvency) No. 1307

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2024 Supreme(Online)(NCLAT) 143

NATIONAL COMPANY LAW APPELLATE TRIBUNALJustice Ashok Bhushan (Chairperson) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,JITEN S GADA & Ors. – AppellantVersusMR MANOJ KUMAR AGARWAL & Ors. – Respondent

NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Justice Ashok Bhushan (Chairperson) , Hon'ble Mr. Barun Mitra (Member (Technical)) ,
JITEN S GADA & Ors. – Appellant
Versus
MR MANOJ KUMAR AGARWAL & Ors. – Respondent