# In the matter of IDBI Trusteeship Services Ltd.  Vs. Shiv Nandan Sharma (IRP of Saha Infratech Pvt. Ltd) CA (AT) (Ins) No. 385 of 2021

> NCLAT judgment dated 2021-06-09. Citation: TCN-2021-NCLAT-00242. Two appeals were filed by two Financial Creditors, assignees of financial debt, seeking to be…

- **Court:** NCLAT
- **Order date:** 9 Jun 2021
- **Citation:** TCN-2021-NCLAT-00242
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/idbi-trusteeship-services-ltd-vs-shiv-nandan-sharma-94d33d93

## Summary

### Background

Two appeals were filed by two Financial Creditors, assignees of financial debt, seeking to be part of the Committee of Creditors (CoC). The Appellants claimed to constitute 68% of the CoC. An earlier I.A No. 2167 of 2021 filed by the Appellants became infructuous after an interim stay was granted by the Adjudicating Authority (National Company Law Tribunal). Subsequently, I.A Nos. 2286 and 2275 of 2021 were filed by the Appellants. I.A No. 2286 challenged the Resolution Professional's decision to consider the Appellant in Company Appeal (AT) (Insolvency) No. 385 of 2021 as ‘related parties'. I.A No. 2275 was filed for the same reasons by the Appellant in Company Appeal (AT) (Insolvency) No.386 of 2021. The Adjudicating Authority passed orders in I.A No. 2286 of 2021

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## Facts

IDBI Trusteeship Services Ltd. and Assets Care & Reconstruction Enterprise Ltd. filed appeals against Shiv Nandan Sharma (IRP of Saha Infratech Pvt. Ltd). The appeals were filed as the Financial Creditors claimed to be assignees of financial debt and sought to be part of the Committee of Creditors (CoC), constituting 68% of the CoC. An earlier I.A No. 2167 of 2021 filed by the Appellants became infructuous. I.A Nos. 2286 and 2275 of 2021 were filed, challenging the Resolution Professional's decision to consider the Appellants as ‘related parties'. The Corporate Insolvency Resolution Process (CIRP) against ‘M/s. Saha Infratech Pvt. Ltd.' started on 28th February, 2020, and was still pending. The Interim Resolution Professional (IRP) had recorded dues and

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## Issues and analysis

### Issue 1: Whether the present appeals should be entertained against the impugned orders, considering that the …

**Ratio:** The court has the discretion to entertain appeals against orders. However, it should

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**Reasoning:** The court reasoned that it would not be appropriate to entertain the present appeals

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**Interpretation:** The interpretation involves balancing the right to appeal with the need for

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**Application:** In this case, the court applied the reasoning by declining to entertain the

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## Parties

- **Judges:** A.I.S. C…; V. P. S…
- **Appellants:** IDBI Trusteeship…
- **Respondents:** M/s. Saha…; Shiv Nandan…

## Timeline

- **2020-02-28 — CIRP Star…**: Corporate Insolvency Resolution Process (CIRP) started against the Corporate Debtor-…
- **2021-05-17 — IRP Affi…**: The IRP filed an affidavit informing the decision taken regarding the claims of both the…

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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/idbi-trusteeship-services-ltd-vs-shiv-nandan-sharma-94d33d93