# In the matter of Krishna Sahil Constructions Pvt. Ltd. vs. Hemant Sharma, RP

> NCLAT judgment dated 2026-01-05. Citation: TCN-2026-NCLAT-00019. The Appellant, Krishna Sahil Constructions Pvt. Ltd., filed an appeal against an order dated…

- **Court:** NCLAT
- **Order date:** 5 Jan 2026
- **Citation:** TCN-2026-NCLAT-00019
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/krishna-sahil-constructions-pvt-ltd-vs-hemant-sharma-rp-b33c96f1

## Summary

### Background

The Appellant, Krishna Sahil Constructions Pvt. Ltd., filed an appeal against an order dated 07.11.2025, which rejected IA No.2932/2024 filed by the Appellant. The IA sought the release of bank guarantees related to a mobilisation advance issued by the Applicant in favor of the Corporate Debtor.

## Facts

Krishna Sahil Constructions Pvt. Ltd. filed an appeal against the rejection of IA No.2932/2024.

The IA sought the release of bank guarantees related to a mobilisation advance of Rs. 1,29,30,000/-.

A contract was entered with the Appellant and the Resolution Professional, under which a mobilisation advance was given to the Appellant.

The Appellant also filed a claim before the Resolution Professional regarding the work both pre-CIRP and during CIRP.

The plan has been approved by the CoC and is pending consideration before the Adjudicating Authority.

The Adjudicating Authority rejected the application seeking release of the Bank Guarantee.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the application for the release of the …

**Ratio:** The Adjudicating Authority rightly did not allow the application seeking release of the

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**Reasoning:** The claim of the Appellant is already under consideration in the plan and shall abide by

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**Interpretation:** The Adjudicating Authority's decision is upheld because the claim is already

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**Application:** The principle is applied that when a claim is part of the resolution plan, the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Krishna Sahil…
- **Respondents:** Hemant Shar…
- **Other parties:** Hemant S…
- **Advocates:** Pooja Mehra…; Bani Di…; +7 more

## Timeline

- **2025-11-07 — Order Da…**: Order passed by which IA No.2932/2024…
- **2026-01-05 — Hearing…**: Heard learned counsel for the Appellant as…

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