# In the matter of Expert Realty Professionals Pvt. Ltd. vs. Logix Infrastructure Pvt. Ltd. and Ors.

> NCLAT judgment dated 2025-09-08. Citation: TCN-2025-NCLAT-00482. Expert Realty Professionals Private Limited filed an appeal against the order dated…

- **Court:** NCLAT
- **Order date:** 8 Sept 2025
- **Citation:** TCN-2025-NCLAT-00482
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/expert-realty-professionals-pvt-ltd-vs-logix-infrastructure-pvt-ltd-and-ors-d3c265b0

## Summary

### Background

Expert Realty Professionals Private Limited filed an appeal against the order dated 06.02.2025 passed by the National Company Law Tribunal, New Delhi Bench, in CP(IB) No. 237/2023. The NCLT had recalled the admission order dated 14.07.2023 and imposed a penalty of Rs. 55 lakhs on the Appellant under Section 65 of the IBC, which was stayed by the Tribunal.

## Facts

Logix Infrastructure Private Limited launched a residential project called Blossom County in Sector 137, Noida.

Expert Realty Professionals Private Limited and Logix Infrastructure Private Limited entered into an agreement on 20.10.2020, where Expert Realty would purchase a built-up area of 1,37,918 sq. ft. under a buy-back arrangement.

Expert Realty infused ₹15 crore between October 2020 and February 2021 into Logix Infrastructure.

A sum of ₹12,88,04,535/- became due and payable to Expert Realty.

Expert Realty filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 14.07.2023.

An objection was raised by a homebuyer association, which was rejected by the NCLT.

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## Issues and analysis

### Issue 1: Whether the Appellant and Corporate Debtor are …

**Ratio:** The Tribunal found that Hemant Sharma, Director of the Corporate Debtor, was also an

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**Reasoning:** The Tribunal relied on Section 5(24)(a) read with Section 5(24A) (b) and Section

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**Interpretation:** The Tribunal interpreted Section 5(24) broadly to include situations where

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**Application:** The Tribunal applied the related party definition to the facts of the case,

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## Parties

- **Judges:** N. Sesha…; Arun Ba…
- **Appellants:** Expert Realty…; Aniket Tyagi &…
- **Respondents:** Logix Infrastructu…; Ankoor B…; +1 more
- **Other parties:** Hemant S…; Neeraj G…; +2 more
- **Advocates:** Sunil Fer…; Ketan M…; +6 more

## Timeline

- **2020-10-20 — MoU Date…**: Binding understanding agreement between…
- **2021-12-15 — Meeting…**: Meeting between Expert Realty and Logix…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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