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of <h1>Appeal dismissed: Intervention application rejected in Section 7 IBC proceeding upheld.</h1> <h3>Surinder Pal Singh & Ors. Versus Spaze Towers Pvt. Ltd.</h3> Surinder Pal Singh & Ors. Versus Spaze Towers Pvt. Ltd. - TMI Appeal against order dated 26.08.2022 challenging rejection of I.A. Nos. 3795/ND/2022 and 3796/ND/2022 (applications to intervene) in a Section 7 IBC proceeding. The applicants are home-buyers who sought to intervene in a Section 7 petition initiated by another home-buyer; that petition remains pending and 'has not yet been admitted.' The Adjudicating Authority rejected intervention on the ground that at the pre-admission stage 'there is no occasion to permit the Applicant to intervene in the matter.' No error was found in declining intervention prior to admission of the Section 7 application. Noting prior settlements between the Corporate Debtor and other home-buyers, the Tribunal nevertheless held that the appellants 'shall be open to the Appellant to file appropriate fresh application in the event application is admitted under Section 7 IBC.' Subject to that qualification, the appeal is dismissed.
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