AMIT NEHRA & ANR. versus PAWAN KUMAR GARG & ORS.

AMIT NEHRA & ANR. versus PAWAN KUMAR GARG & ORS.

Because the appellants resubmitted their claim on 07.02.2020, it was verified by the Resolution Professional and incorporated in the published list of financial creditors dated 30.04.2020 (Serial No.636), the claim was admitted and therefore falls within Clause 18.4(ii) read with Clause 18.4(vi)(a) of the approved Resolution Plan entitling them to execution of the conveyance deed and possession; Clause 18.4(xi) is residuary and does not apply to admitted claims.

Parties
Appellant: Amit Nehra & Anr.; Respondent: Pawan Kumar Garg & Ors.
Jurisdiction
India
Judgment Date
09 September 2025
Procedural Posture
Civil Appeal Under Section 62 of the Insolvency and Bankruptcy Code, 2016 / Judgment on Appeal
Outcome
Appeal allowed
Legal Topics
Allottees' Claims, Verification and Admission of Claims, Possession and Conveyance, Interpretation of Resolution Plan Clauses, Refund Under Clause 18.4(xi)
Insolvency and Bankruptcy Real Estate Allottees' Claims Verification and Admission of Claims Possession and Conveyance Interpretation of Resolution Plan Clauses Refund Under Clause 18.4(xi)

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Parties

Amit Nehra & Anr.

Appellant

Pawan Kumar Garg & Ors.

Respondent

Procedural Posture

Civil Appeal Under Section 62 of the Insolvency and Bankruptcy Code, 2016 / Judgment on Appeal

Legal Issues

  1. 1 Whether appellants whose claim was resubmitted, verified by the Resolution Professional and incorporated in the published list of financial creditors are entitled to possession under Clause 18.4(ii) read with Clause 18.4(vi)(a) of the approved Resolution Plan or are to be treated as belated claimants entitled only to 50% refund under Clause 18.4(xi)
  2. 2 Whether publication of the list of financial creditors and admission of a claim by the Resolution Professional confers full legal recognition within the CIRP process and affects the applicability of residuary clauses in the Resolution Plan

Ratio Decidendi

Because the appellants resubmitted their claim on 07.02.2020, it was verified by the Resolution Professional and incorporated in the published list of financial creditors dated 30.04.2020 (Serial No.636), the claim was admitted and therefore falls within Clause 18.4(ii) read with Clause 18.4(vi)(a) of the approved Resolution Plan entitling them to execution of the conveyance deed and possession; Clause 18.4(xi) is residuary and does not apply to admitted claims.

Court Disposition

Appeal allowed

Orders

  • The judgment of the NCLAT dated 10.01.2025 in Company Appeal (AT) (Insolvency) No. 1365 of 2023 and the order of the NCLT dated 26.07.2023 in I.A. No. 5579 of 2021 in CP (IB) No. 934(PB)/2018 are set aside
  • Respondents shall execute the Conveyance Deed and hand over possession of Apartment No. GBD-00-001, Block D, IREO Rise (Gardenia), Mohali to the appellants within two months from the date of the judgment