# In the matter of Fantasy Buildwell Private Limited Vs. Tej Mohan Sachdev CA(AT)(Ins) No.1180-2019

> NCLAT judgment dated 2019-11-11. Citation: TCN-2019-NCLAT-00156. The appeal was preferred by Fantasy Buildwell Private Limited against an order dated…

- **Court:** NCLAT
- **Order date:** 11 Nov 2019
- **Citation:** TCN-2019-NCLAT-00156
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/fantasy-buildwell-private-limited-vs-tej-mohan-sachdev-ca-81d7d22c

## Summary

### Background

The appeal was preferred by Fantasy Buildwell Private Limited against an order dated 21.10.2019, which stated that there was no settlement proposal made as suggested on 09.10.2019 regarding CP No. 1161(PB)/2019, and the order remained reserved. The Adjudicating Authority had not passed an order for admission.

## Facts

Fantasy Buildwell Private Limited filed an appeal against an order dated 21.10.2019. Two applications were filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, and one under Section 9 for initiating Corporate Insolvency Resolution Process against Fantasy Buildwell Private Limited ('Corporate Debtor'). Fantasy Buildwell Private Limited settled the matter with two applicants, Tej Mohan Sachdev ('Financial Creditor') and M/s S.R. Constructions ('Operational Creditor'). Negotiations for settlement were also ongoing between Fantasy Buildwell Private Limited and Mr. Amit Minda ('Financial Creditor'). The Adjudicating Authority had reserved the order in all three matters. The Adjudicating Authority had not passed an order for admission.

## Issues and analysis

### Issue 1: Whether the Appellate Tribunal should interfere with the Adjudicating Authority's order when no …

**Ratio:** The Appellate Tribunal is generally disinclined to interfere with orders of the

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**Reasoning:** The court reasoned that since no order for admission had been passed by the Adjudicating

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**Interpretation:** This indicates a judicial preference for allowing the Adjudicating Authority to

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**Application:** The court applied this principle by declining to interfere with the

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## Parties

- **Judges:** S.J. Mukhop…; Venugop…; +1 more
- **Respondents:** Fantasy Buildwell…; Tej Mohan S…
- **Advocates:** Abdesh Cha…; Mukesh Tr…; +5 more

## Timeline

- **2019-10-09 — Settlement P…**: A settlement proposal was suggested…
- **2019-10-21 — Order Da…**: Order was passed stating that there was no settlement proposal made and the order remains…

## 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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