# Greater Noida Industrial Development Authority & Anr. vs. Anand Sonbhadra & Ors.

> NCLAT judgment dated 2026-09-16. Citation: TCN-2026-NCLAT-00276. This case involves two connected appeals, Company Appeal (AT) (INS) No. 184 of 2023 and No.…

- **Court:** NCLAT
- **Order date:** 16 Sept 2026
- **Citation:** TCN-2026-NCLAT-00276
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/greater-noida-industrial-development-authority-anr-vs-anand-sonbhadra-or-0rhrr

## Summary

### Background

This case involves two connected appeals, Company Appeal (AT) (INS) No. 184 of 2023 and No. 1107 of 2023, filed by the Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development Authority (NOIDA) respectively. Both appeals challenge an Impugned Order dated 12.09.2022, passed by the National Company Law Tribunal (NCLT), New Delhi Bench, which approved a Resolution Plan for M/s Shubhkamna Buildtech Private Limited (the Corporate Debtor). The Appellants, statutory authorities, contend that their outstanding dues (lease premium, lease rent, additional compensation, etc.) are secured by a statutory charge on the leased properties under the U.P. Industrial Area Development Act, 1976. They argue that the Resolution Plan erred by classifying

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## Facts

Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development Authority (NOIDA) filed two appeals (Comp. App. (AT) (Ins) No. 184 of 2023 and 1107 of 2023) against an NCLT order dated 12.09.2022.

The impugned order approved Resolution Plans for M/s Shubhkamna Buildtech Private Limited (Corporate Debtor) in its Corporate Insolvency Resolution Process (CIRP).

GNIDA, a statutory authority, allotted Plot No. GH-02, Sector-01, on 18.08.2010 to a consortium including the Corporate Debtor, and later subdivided it, with possession handed over to the Corporate Debtor under a lease deed dated 04.04.2011.

GNIDA claimed outstanding dues of Rs. 37,83,48,790/- from the Corporate Debtor, for which a Recovery Certificate dated 20.11.2018 was issued.

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## Issues and analysis

### Issue 1: Whether Greater Noida Industrial Development Authority (GNIDA) and New Okhla Industrial Development …

**Ratio:** A 'security interest' under Section 3(31) of the Insolvency and Bankruptcy Code, 2016,

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**Reasoning:** The NCLAT examined the lease deeds and found that the 'Mortgage' clause provided only a

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**Interpretation:** The NCLAT interpreted Section 3(31) to require a consensual and explicit

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**Application:** Given that the lease deeds of GNIDA and NOIDA did not contain a general,

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## Parties

- **Judges:** Mohammad Faiz…; Naresh Sa…
- **Appellants:** Greater Noida…; New Okhla…
- **Respondents:** M/S. SHUBHKAMNA…; Anand Son…; +4 more
- **Other parties:** Analysis co…; The Committee of…; +8 more
- **Advocates:** U. N S…; Abhishek…; +20 more

## Timeline

- **2010-07-30 — NOIDA Lease Deed…**: NOIDA allotted Plot No. GH-05/B, Sector-137, measuring 22,565.77 sq. metres, to the…
- **2010-08-18 — GNIDA Plot Al…**: Plot No. GH-02, Sector-01, measuring 81,800 sq. mtrs., was originally allotted to a…

## 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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