2026 (1) TMI 331

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...., Advocates. For the Respondent : Mr. Gautam Singhal, Mr. Rajat Chaudhary, Ms. Kanika Balhara, Advocates for RP. Adv. Meghna Rao, Adv. Seoul Shah, Advocates for R- 2 to 43. Mr. Rakesh Jindal, Advocate. Mr. Dhaval Deshpande, Mr. Amir Arsiwala, Advocates for R-44. Mr. Vipul Agarwal, Mr. Akshat Singh, Mr. Utkarsh K., Advocates. ORDER This appeal is filed against an impugned order dated 14.02.2023 passed by the Ld. NCLT, New Delhi Bench IV in CP(IB) No. 223 of 2022 titled as "Kaushal Deshmukh & Ors. vs. Grand Reality Pvt. Ltd." filed under Section 7 of the IBC, 2016. 2. Vide order dated 26.09.2023, this Tribunal while allowing IA No. 1832 of 2023 (hereinafter referred to as "Intervention Application") sought to resolve t....

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....n Certificates dated 10.05.2024 and 22.05.2024. This Tribunal appointed a Local Commissioner (hereinafter referred to as the "LC") who affirmed the completion of the project vide her report dated 09.08.2024 which was recorded in the order dated 12.08.2024 which is hereunder: "......... We have perused the Order dated 9th July, 2024 wherein the learned Local Commissioner along with Resolution Professional were directed to verify contents of an Affidavit filed on 27th May, 2024 by Respondent No.44. Learned Local Commissioner has filed her Report. We have perused the Report and find the same in consonance with Affidavit filed by Respondent No.44. As per the learned Local Commissioner's Report, electronic fittings and applianc....

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....S. No. Type of Creditor Remarks 1. Financial Creditor Ayush Jain (P2-502) Possession not offered to the claimant by the CD. 2. Financial Creditor Mukesh Kr. Agarwal (P2- 301) Amount pending on account of agreed interest and compensation.  Possession received. 3. Financial Creditor Rohita Dharanendra Hesi (P3-1204) Claimant has not confirmed receiving the possession or satisfaction of claim. 4. Mrs. Usha Malik (P1-903) Claimant has not confirmed receiving the possession or satisfaction of claim. 5. Income Tax Department Claim not satisfied. 6. We have been informed the claims from S. No. 1 to 4 above have been satisfied and the details of the same are hereunder: A. Ayush Jai....

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.... the email dated 16.06.2025 is filed). 7. Qua the sole claim of Income Tax Department pertaining to the assessment year 2015-16, it is submitted this Tribunal vide its order dated 07.07.2025 had directed the Income Tax to appear in order to confirm the status of the disputed claim and stay of demand. The Appellant also filed an Affidavit dated 08.07.2025 placing on record the stay of demand and deposit made by the Appellant for such stay. This fact was also confirmed by the Counsel for the Income Tax Mr. Akshat Singh, Jr. Standing Counsel who appeared in the matter on 11.07.2025 and stated that they do not have any objection if the CIRP against the Corporate Debtor is closed as long as the dispute between the Corporate Debtor and the Inc....

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.... this Court shall be paid to the Respondent No.1." 9. Further in the case of Gaurav Bhati (Suspended Director of Bird Consultancy Services Pvt. Ltd.) v. Smriti Bhatia & Ors., Company Appeal (AT) (Ins.) No. 881 of 2025, this Tribunal held: "7. Keeping in view the aforesaid facts and circumstances coupled with the law laid down by this Court in the case of Sachin Malde (Supra), we are of the considered opinion that in the absence of any claim made by the creditors other than the one who have filed the application under Section 7, despite the fact that due publication was made by the IRP, this court can exercise jurisdiction for settling the dispute between the parties, before this court, in spite of asking the financial creditor t....