# In the matter of Khozim Yusuf Nagarwala vs. Satyendra Prasad Khorania, Erstwhile RP of Raj Buildhome Pvt. Ltd.

> NCLAT judgment dated 2024-07-02. Citation: TCN-2024-NCLAT-00350. The case involves an appeal against an order dated 22.02.2023 passed by the National Company…

- **Court:** NCLAT
- **Order date:** 2 Jul 2024
- **Citation:** TCN-2024-NCLAT-00350
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/khozim-yusuf-nagarwala-vs-satyendra-prasad-khorania-erstwhile-rp-of-raj-buildhom-9a5b99ce

## Summary

### Background

The case involves an appeal against an order dated 22.02.2023 passed by the National Company Law Tribunal (NCLT), Jaipur Bench, regarding a Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated against the Corporate Debtor on 03.05.2019. The Appellant, being the Financial Creditor, had filed an application under Section 7. An earlier appeal against the Adjudicating Authority's order dated 03.05.2019 was allowed on 11.12.2019, releasing the Corporate Debtor from the CIRP. Subsequently, the Adjudicating Authority dismissed the Company Petition on 12.12.2019. A contempt petition filed by the Resolution Professional (RP) was dismissed by the Adjudicating Authority, leading to the current appeal.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 03.05.2019. The Appellant, Khozim Yusuf Nagarwala, being the Financial Creditor, filed an application under Section 7. An appeal was filed against the order passed by the Adjudicating Authority dated 03.05.2019, which was allowed by order dated 11.12.2019. This Appellate Tribunal, while allowing the appeal, issued directions in paragraphs 18 & 19, releasing the Corporate Debtor from the CIRP. Subsequent to this order, the Adjudicating Authority dismissed the Company Petition on 12.12.2019. The Resolution Professional (RP) sent an email to the Financial Creditor conveying expenses and fees amounting to Rs. 17,68,67,767. The Financial Creditor allegedly did not make any

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority had the jurisdiction to compute the fees and expenses of the …

**Ratio:** The Appellate Tribunal's order dated 11.12.2019 specifically directed that the Financial

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**Reasoning:** The court reasoned that the Adjudicating Authority has ample jurisdiction to proceed to

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**Interpretation:** This interprets the scope of the Adjudicating Authority's powers in determining

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**Application:** The ratio and reasoning apply to the specific facts by affirming that the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Khozim Yusuf…
- **Respondents:** Raj Buildhome…; Satyendra Prasad…

## Timeline

- **2019-05-03 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP)…
- **2019-12-11 — Appellate Tribu…**: Appellate Tribunal allowed the appeal and…

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