2019 (7) TMI 1688

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....khopadhaya [Chairperson], Justice A.I.S. Cheema [Member (Judicial) And Kanthi Narahari [Member (Technical) Dr. U.K. Chaudhary, Senior Advocate with Ms. Manisha Chaudhary, Ms. Samridhi Gogia, Mr. Dhruv Gupta and Mr. Sunil Kumar, Advocates   ORDER This appeal has been preferred by Mr. Sunil Kumar Aggarwal, Authorised Representative of Home Buyers (Allottees) of 'M/s. Granite Gate Prope....

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....137 of the schedule of the Limitation Act, 1963 would not apply.  On the contrary the provisions of Article 62 of the schedule of the Limitation Act, 1963 would apply which provides for 12 years period of limitation. It was then sought to be argued that the nature of lease given by the applicant- NOIDA is not a financial lease within the meaning of Indian Accounting Standards and therefore, i....

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....earned Senior Counsel appearing on behalf of the Appellant submitted that the "New Okhla Industrial Development Authority"  (NOIDA) has already been considered as a 'Financial Creditor' and the 'Resolution Professional' has already submitted the report.  Now it is not open to any of the Authority to change the status of NOIDA from the 'Financial Creditor' to any other type of 'Creditors'....