This case involves two appeals, Company Appeal (AT) (Insolvency) No. 446 of 2022 filed by Sandeep Kumar Jain and Company Appeal (AT) (Insolvency) No. 451 of 2022 filed by Ashwani Kumar Sharma, against an order passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Special Bench) dated 28.02.2022. The appeals concern the rejection of intervention applications filed by the Appellants, who are homebuyers, in a matter where the class of homebuyers is already represented.
Sandeep Kumar Jain and Ashwani Kumar Sharma, both homebuyers, filed intervention applications in a matter before the Adjudicating Authority (National Company Law Tribunal, New Delhi, Special Bench). The Adjudicating Authority rejected these applications, observing that the class of homebuyers was already represented in the matter. Jain and Sharma then filed appeals against the Adjudicating Authority's order. The Appellants argued that the authorized representation of the homebuyers was not providing relevant facts and information, necessitating their intervention. The court noted that the Appellants, as homebuyers, are bound by the decisions of the class of homebuyers and can approach the Resolution Professional and Adjudicating Authority if needed. The court dismissed
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This case involves two appeals, Company Appeal (AT) (Insolvency) No. 446 of 2022 filed by Sandeep Kumar Jain and Company Appeal (AT) (Insolvency) No. 451 of 2022 filed by Ashwani Kumar Sharma, against an order passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Special Bench) dated 28.02.2022. The appeals concern the rejection of intervention applications filed by the Appellants, who are homebuyers, in a matter where the class of homebuyers is already represented.
Sandeep Kumar Jain and Ashwani Kumar Sharma, both homebuyers, filed intervention applications in a matter before the Adjudicating Authority (National Company Law Tribunal, New Delhi, Special Bench). The Adjudicating Authority rejected these applications, observing that the class of homebuyers was already represented in the matter. Jain and Sharma then filed appeals against the Adjudicating Authority's order. The Appellants argued that the authorized representation of the homebuyers was not providing relevant facts and information, necessitating their intervention. The court noted that the Appellants, as homebuyers, are bound by the decisions of the class of homebuyers and can approach the Resolution Professional and Adjudicating Authority if needed. The court dismissed
…The Adjudicating Authority (National Company…
The court heard the Learned Counsel for the…
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