# In the matter of Gopichand H Krishnani Vs.
Vinodkumar Pukhraj Ambavat
Resolution Professional
R.K. Jain Construction (India) Pvt. Ltd. Company Appeal (AT) (Insolvency) No. 1040 of 2022
& I.A. No. 3003 of 2022

> NCLAT judgment dated 2022-08-29. Citation: TCN-2022-NCLAT-00256. The appeal was filed against an order dated 07.07.2022 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 29 Aug 2022
- **Citation:** TCN-2022-NCLAT-00256
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/gopichand-h-krishnani-vs-vinodkumar-pukhraj-ambavat-resolution-professional-rk-j-78ca2876

## Summary

### Background

The appeal was filed against an order dated 07.07.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Cuttack Bench, which rejected I.A. No. 296/CB/2020. The appellant filed a claim for the market value of property Shop No. 204 at R. K. Mall and other claims.

## Facts

Gopichand H Krishnani filed an appeal against the order of the Adjudicating Authority (National Company Law Tribunal, Cuttack Bench) which rejected I.A. No. 296/CB/2020. The appellant's claim included the market value of property Shop No. 204 at R. K. Mall and other claims. The Adjudicating Authority considered the claim and observed that the sale deed appeared to be a sham and nominal document created with ulterior motive, and that other claims were time-barred. The appellant's counsel argued that the Adjudicating Authority lacked jurisdiction to inquire about the source of funds for the property purchase. The Adjudicating Authority found that the appellant's payment was not reflected in the Corporate Debtor's account books, leading to an adverse inference. The

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in rejecting the Appellant's claim for the market value of …

**Ratio:** The Adjudicating Authority is empowered to examine the validity and authenticity of

…

**Reasoning:** The Adjudicating Authority considered the claim and observed that the sale deed appeared

…

**Interpretation:** The Adjudicating Authority has the power to assess the validity of claims,

…

**Application:** The Adjudicating Authority applied its power to assess the validity of the

…

## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Gopichand Η…
- **Respondents:** R. K Jain…; Vinodkumar…; +1 more

## Timeline

- **2022-07-07 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Cuttack Bench passed an order…
- **2022-08-29 — Appeal He…**: The appellate tribunal heard the…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/gopichand-h-krishnani-vs-vinodkumar-pukhraj-ambavat-resolution-professional-rk-j-78ca2876