# In the matter of Ankur Narang & Ors. vs. Nilesh Sharma RP of Today Homes and Infrastructure Pvt. Ltd. & Ors.

> NCLAT judgment dated 2023-10-20. Citation: TCN-2023-NCLAT-00109. The appeal arises from an order dated 01.08.2023 passed by the Adjudicating Authority,…

- **Court:** NCLAT
- **Order date:** 20 Oct 2023
- **Citation:** TCN-2023-NCLAT-00109
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ankur-narang-ors-vs-nilesh-sharma-rp-of-today-homes-and-infrastructure-pvt-ltd-o-10ec2288

## Summary

### Background

The appeal arises from an order dated 01.08.2023 passed by the Adjudicating Authority, National Company Law Tribunal, New Delhi (Court-III) in I.A. No. 4171/2021 in CP (IB) No.2130/ND/2019. The Appellants, a group of 25 home buyers in the Canary Greens project developed by Today Homes and Infrastructure Pvt. Ltd. (Corporate Debtor), filed a complaint before the NCDRC due to the Corporate Debtor's failure to offer possession of the flats within the prescribed time. The NCDRC ordered the Corporate Debtor to refund the entire amount received from the complainants with interest and litigation costs. Subsequently, the Corporate Debtor was admitted into CIRP. The Appellants filed claims with the RP, who raised concerns regarding the calculation of claims, leading to the

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## Facts

A group of 25 applicants, allottees of residential flats in the Canary Greens project in Gurugram developed by Today Homes and Infrastructure Pvt. Ltd. (Corporate Debtor), filed complaints before the National Consumer Disputes Redressal Commission (NCDRC) because the Corporate Debtor failed to offer possession of the flats within the prescribed time. The NCDRC ordered the Corporate Debtor on 31.01.2017 to refund the entire amount received from each complainant, including Service Tax and VAT, along with compensation at 10% p.a. and Rs.10,000/- as litigation costs. The Corporate Debtor was later admitted into Corporate Insolvency Resolution Process (CIRP) on 31.10.2019. The applicants filed their claims in the CIRP. The Resolution Professional (RP) raised concerns

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority wrongly dismissed IA No.4171/2021 without considering the …

**Ratio:** The commercial wisdom of the Committee of Creditors (CoC) in approving a resolution plan

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**Reasoning:** The court found that the Adjudicating Authority had duly considered the objections raised

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**Interpretation:** This issue concerns the extent to which the Adjudicating Authority can

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**Application:** The court applied the principle of limited judicial review to the facts of the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Ankur N…
- **Respondents:** Today Homes &…; Nilesh S…
- **Advocates:** Pawan Shree…; Shubhangi…; +1 more

## Timeline

- **2017-01-31 — NCDRC Or…**: NCDRC ordered the Corporate Debtor to refund the entire amount received from the…
- **2019-10-31 — CIRP Admi…**: The Corporate Debtor was admitted into…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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