# In the matter of Everlike Real Estate & Developers Pvt. Ltd. vs. Mohit Goyal, CA

> NCLAT judgment dated 2024-07-02. Citation: TCN-2024-NCLAT-00358. Everlike Real Estate & Developers Pvt. Ltd. filed an appeal under Section 61 of the…

- **Court:** NCLAT
- **Order date:** 2 Jul 2024
- **Citation:** TCN-2024-NCLAT-00358
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/everlike-real-estate-developers-pvt-ltd-vs-mohit-goyal-ca-792408ec

## Summary

### Background

Everlike Real Estate & Developers Pvt. Ltd. filed an appeal under Section 61 of the Insolvency & Bankruptcy Code, 2016, against an order dated 05.04.2024 passed by the National Company Law Tribunal, New Delhi Bench, which dismissed the Appellant's application. The initial application was filed by Mr. Yogesh Gupta, Sole Proprietor of Rapid Constructions, under section 9 of the Code, leading to the Corporate Insolvency Resolution Process (CIRP) commencing on 31.03.2022. Mr. Mohit Goyal was appointed as the Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP). The Resolution Plan submitted by Respondent No. 2 was approved by the Committee of Creditors (CoC) with 100% voting and subsequently approved by the Adjudicating

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## Facts

Everlike Real Estate & Developers Pvt. Ltd. (Appellant) filed an appeal against the National Company Law Tribunal (NCLT) order dated 05.04.2024, which approved a Resolution Plan. The CIRP was initiated based on an application by Mr. Yogesh Gupta of Rapid Constructions. Mr. Mohit Goyal served as the Resolution Professional for Aadi Best Consortium Private Limited (Corporate Debtor). The Resolution Plan submitted by Skael Enterprises Private Limited (Respondent No. 2) was approved by the Committee of Creditors (CoC) with 100% voting. The Appellant claimed to be a financial creditor based on a Memorandum of Understanding (MOU) dated 24.05.2016, where they agreed to purchase 25,000 sq. ft. of commercial space for Rs. 12.50 Crores, having paid Rs. 10 Crores. The

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## Issues and analysis

### Issue 1: Whether the Appellant should be classified as a financial creditor in category 2 of the Resolution …

**Ratio:** The definition of 'allottee' under Section 2(d) of the RERA Act, 2016, includes a person

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**Reasoning:** The court reasoned that the MOU lacked specific details of the property, such as unit

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**Interpretation:** The interpretation of the RERA Act definitions and the distinction between

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**Application:** The court applied the definitions and principles to the facts of the case,

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…; +1 more
- **Appellants:** Everlike Real…
- **Respondents:** Aadi Best…; Mohit Goy…

## Timeline

- **2022-03-31 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced following the admission of an…
- **2022-04-15 — Last Date for…**: The Interim Resolution Professional (IRP/RP) issued a public announcement inviting claims…

## 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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