# In the matter of Harendra Singh Khokhar vs. Indarprashtha Buildtech Pvt. Ltd. & Anr. Comp. App. (AT) (Ins.) No. 171 of 2022

> NCLAT judgment dated 2022-02-17. Citation: TCN-2022-NCLAT-00621. The case involves an appeal against the Adjudicating Authority's (National Company Law…

- **Court:** NCLAT
- **Order date:** 17 Feb 2022
- **Citation:** TCN-2022-NCLAT-00621
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/harendra-singh-khokhar-vs-indarprashtha-buildtech-pvt-ltd-anr-comp-app-a1d4631a

## Summary

### Background

The case involves an appeal against the Adjudicating Authority's (National Company Law Tribunal), New Delhi (Court No.IV) decision to admit an application. The appellant contends that there was neither any operational debt nor any default committed as per the terms sheet signed by the parties.

## Facts

Harendra Singh Khokhar filed an appeal against Indarprashtha Buildtech Pvt. Ltd. & Anr. The appellant, Harendra Singh Khokhar, argued that there was no operational debt or default as per the terms sheet. The Adjudicating Authority (National Company Law Tribunal), New Delhi (Court No.IV) admitted an application, which the appellant is contesting. The Interim Resolution Professional (IRP) stated that claims have been called for, with the last date being 22.02.2022, and the Committee of Creditors (CoC) has not yet been constituted. The court issued a notice to the respondents and listed the appeal for 24.03.2022, instructing that the CoC not be formed until the next listing date. The key fact is the dispute over the existence of an operational debt and the subsequent

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in admitting the application, considering the appellant's …

**Ratio:** The ratio hinges on the interpretation of 'operational debt' and 'default' under the

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**Reasoning:** The court's reasoning will depend on its assessment of the evidence presented by both

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**Interpretation:** The interpretation involves understanding the legal definitions of 'operational

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**Application:** The ratio and reasoning will be applied to the specific facts of the case,

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## Parties

- **Judges:** Ashok Bh…; Ashok Kumar…
- **Appellants:** Harendra Singh…
- **Respondents:** Indarprashtha…
- **Advocates:** Virender…; Alok Kr. Ag…; +4 more

## Timeline

- **2022-02-17 — Appellant's Counsel…**: Learned Counsel for the Appellant contends that neither there was any operational debt…
- **2022-02-22 — Last Date for…**: Learned Counsel for the Interim Resolution Professional submits that the claims have been…

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