# In the matter of Ashok Harry Pothen vs. Indian Bank

> HC judgment dated 2025-02-04. Citation: TCN-2025-HC-00047. The petitioner, Ashok Harry Pothen, availed a loan from Indian Bank, which was secured by…

- **Court:** HC
- **Order date:** 4 Feb 2025
- **Citation:** TCN-2025-HC-00047
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/high-courts-new-delhi/ashok-harry-pothen-vs-indian-bank-56579ae3

## Summary

### Background

The petitioner, Ashok Harry Pothen, availed a loan from Indian Bank, which was secured by mortgaging his property. He entered into an agreement with M/s. Heera Constructions Pvt. Ltd. for joint development of the property. M/s. Heera Constructions Pvt. Ltd. was undergoing insolvency proceedings before the Company Law Tribunal, and a resolution plan was approved. The petitioner argued that the bank cannot proceed against his property due to the resolution plan.

## Facts

Ashok Harry Pothen, the petitioner, obtained a loan from Indian Bank, the respondent. The loan was secured by mortgaging a property belonging to Pothen. Pothen entered into a joint development agreement with M/s. Heera Constructions Pvt. Ltd. for the mortgaged property. M/s. Heera Constructions Pvt. Ltd. underwent insolvency proceedings, and a resolution plan was approved. Pothen argued that the resolution plan barred the bank from proceeding against his property under the SARFAESI Act. The bank contended that it was not a party to the resolution plan and that the plan did not bind it. The petitioner relied on the Supreme Court's judgment in Ghanashyam Mishra and Sons Pvt. Ltd. v. Edelweiss Asset Reconstruction Company Ltd. to support his claim that the resolution plan

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## Issues and analysis

### Issue 1: Whether the resolution plan of M/s. Heera Constructions Pvt. Ltd. bars the respondent bank from …

**Ratio:** The bar against any claim outside the resolution plan applies only to a claim vis-a-vis

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**Reasoning:** The court reasoned that the resolution plan is binding on the corporate debtor and its

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**Interpretation:** The court interpreted the scope of the resolution plan and its binding effect,

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**Application:** The court applied the ratio to the facts of the case, noting that the

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## Parties

- **Judges:** GOPINAT…
- **Appellants:** Ashok Harry…
- **Respondents:** Heera Construction…; The Authorised…
- **Other parties:** Kohi…
- **Advocates:** V.K.PEERMOHAMED…; GIRISH KUM…; +1 more

## Timeline

- **2025-02-04 — Writ Petition…**: The writ petition (civil) came up…
- **2024-09-06 — Order in MC 67…**: True copy of the order in MC 675 of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31 — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

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