# In the matter of Ajay Singhal Vs. Gaurav Katiyar IRP GRJ Distributors Company Appeal (AT)(Ins.)No.676 of 2022

> NCLAT judgment dated 2022-06-13. Citation: TCN-2022-NCLAT-00422. The case involves an appeal against an order by the Adjudicating Authority. The appellant…

- **Court:** NCLAT
- **Order date:** 13 Jun 2022
- **Citation:** TCN-2022-NCLAT-00422
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ajay-singhal-vs-gaurav-katiyar-irp-grj-distributors-company-appeal-dc422705

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority. The appellant disputes the findings of the Adjudicating Authority regarding the threshold limit of 10%. The respondent argues that the Adjudicating Authority's observation that the total unit in the project crossed 338 limits and the Financial Creditors have crossed the threshold limit of 10% is correct.

## Facts

Ajay Singal filed an appeal against Gaurav Katiyar, the Interim Resolution Professional of GRJ Distributers and Developers Pvt. Ltd. & Ors. The appellant is disputing the findings of the Adjudicating Authority at paragraph 7 of the Impugned Order, specifically regarding the threshold limit of 10%. The appellant claims the case was incorrectly crossed over because it is less than the threshold limit. The respondent argues that the Adjudicating Authority's observation that the total unit in the project cross 338 limits and the Financial Creditors have crossed the threshold limit of 10% is correct. The CoC is not constituted and a SARFAESI charge is pending on the subject property.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's findings …

**Ratio:** The Tribunal has the authority to examine the findings of the Adjudicating Authority and

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**Reasoning:** The Tribunal considered the divergent stands taken by the counsels and determined that

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**Interpretation:** The issue revolves around the interpretation of the threshold limit of 10% as

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**Application:** The Tribunal will examine the facts of the case, including the total unit in

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## Parties

- **Judges:** M. Venu…; KanthiNar…
- **Appellants:** Ajay Si…
- **Respondents:** GRJ Distributers…; Gaurav Ka…

## Timeline

- **2022-06-03 — Impugned…**: The Adjudicating Authority passed an order in IA Nos. 5701/2021, 5702/2021, 5703/2021 &…
- **2022-06-13 — Tribunal H…**: The Tribunal heard the arguments of the counsels and decided to examine the threshold…

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