# In the matter of Hari Om Dixit & Ors. vs. Ajit Srivastava and Ors.

> NCLAT judgment dated 2025-07-08. Citation: TCN-2025-NCLAT-00298. Company Appeal (AT) (Insolvency) No. 513 of 2024 was filed by the suspended Director of the…

- **Court:** NCLAT
- **Order date:** 8 Jul 2025
- **Citation:** TCN-2025-NCLAT-00298
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/hari-om-dixit-ors-vs-ajit-srivastava-and-ors-707f9e35

## Summary

### Background

Company Appeal (AT) (Insolvency) No. 1053 of 2024 has been filed challenging only part of the order dated 04.03.2024 insofar it has appointed Mr. Anand Sonbhadra as Resolution Professional (“RP”) whereas Financial Creditors had filed an application praying for change of RP as prayed in Section 7 Application from Anand Sonbhadra to Mr. Anurag Nirbhaya.

## Facts

Greater Noida Industrial Development Authority granted a lease of land to the Corporate Debtor (CD) for a large group housing project.

The CD launched a project named 'Gayatri Aura' consisting of 10+1 towers.

Eight homebuyers filed a Section 7 application as financial creditors against the CD.

The Insolvency and Bankruptcy Code was amended in 2020, introducing a threshold for allottees to initiate CIRP.

The CD filed a revision before the State Government seeking a declaration of zero dated till 01.09.2017.

The Adjudicating Authority admitted the Section 7 application after impleading additional applicants, bringing the total number of homebuyers to 107.

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## Issues and analysis

### Issue 1: Whether the Section 7 application filed by the homebuyers met the threshold requirements under the …

**Ratio:** The third Proviso to Section 7, sub-section (1) of the IBC mandates that applications

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**Reasoning:** The court reasoned that the amendment to Section 7 introduced a threshold of 100

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**Interpretation:** The court interpreted the third Proviso strictly, emphasizing the legislative

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**Application:** The court applied this interpretation to the present case, noting that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Hari Om…; Ajit Shriv…; +2 more
- **Respondents:** M/s Gayatri…; Ajit Srivastava &…; +1 more
- **Other parties:** Ajit Sriv…; Surendra…; +6 more
- **Advocates:** Abhijeet…; Ashish Cho…; +11 more

## Timeline

- **2011-02-11 — Lease De…**: Greater Noida Industrial Development…
- **2019-01-11 — Section 7 App…**: Eight Homebuyers filed Section 7…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 2(za) — Application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-2)

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