# In the matter of Nilesh Sharma, RP- Today Homes
and Infrastructure Pvt. Ltd. vs. Mordhwaj Singh & Ors.

> NCLAT judgment dated 2024-10-25. Citation: TCN-2024-NCLAT-00140. These four appeals arise from orders passed by the National Company Law Tribunal (NCLT), New…

- **Court:** NCLAT
- **Order date:** 25 Oct 2024
- **Citation:** TCN-2024-NCLAT-00140
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/nilesh-sharma-rp-today-homes-and-infrastructure-pvt-ltd-vs-mordhwaj-singh-ors-631f3262

## Summary

### Background

These four appeals arise from orders passed by the National Company Law Tribunal (NCLT), New Delhi, regarding the Corporate Insolvency Resolution Process (CIRP) of Today Homes and Infrastructure Pvt. Ltd. The appeals concern disputes over the possession and development rights of land in Gurugram, Haryana. Company Appeal (AT) (Insolvency) No. 1691 of 2023 and Company Appeal (AT) (Insolvency) No.331 of 2024 were filed against a common order dated 05.12.2023, while Company Appeal (AT) (Insolvency) No.336 of 2024 and Company Appeal (AT) (Insolvency) No. 337 of 2024 were filed against an order dated 22.12.2023. The core issue revolves around the Resolution Professional's (RP) claim to possession of land where the 'Canary Greens' project is located, and the owners' challenge

…

## Facts

The case involves a dispute over land admeasuring 35.2062 acres in Behrampur, Gurugram, Haryana, owned by Mordhwaj Singh and others. The owners entered into a Development Agreement on 03.03.2007 with New India City Developers Private Limited to develop a group housing project and an Information Technology Park. Disputes arose, leading to arbitration. A Consent Award was passed on 05.09.2009, and the owners executed a Special Power of Attorney in favor of the developer on 19.01.2010. On 30.07.2010, the developer entered into an agreement with Today Homes and Infrastructure Pvt. Ltd. (the Corporate Debtor), assigning all rights, obligations, and interests in the Floor Space Index (FSI) to the Corporate Debtor for Rs.40,00,00,000/-. The owners revoked the Power of

…

## Issues and analysis

### Issue 1: Whether the observations of the Adjudicating Authority that the Resolution Professional could not …

**Ratio:** The Supreme Court in 'Victory Iron Works Ltd.' Vs. `Jitendra Lohia & Anr.' reported

…

**Reasoning:** The NCLAT found that the Adjudicating Authority erred in its observation. The court noted

…

**Interpretation:** The Development Rights are considered property under Section 3(27) of the IBC.

…

**Application:** The NCLAT concluded that the RP had satisfactorily proved that the Corporate

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Nilesh Sharma…
- **Respondents:** Today Homes &…; Mordhwaj Singh &…

## Timeline

- **2007-03-03 — Development A…**: Owners entered into a Development Agreement with New India City Developers Private…
- **2009-09-05 — Consent…**: Consent Award passed in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(27) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

---

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/nilesh-sharma-rp-today-homes-and-infrastructure-pvt-ltd-vs-mordhwaj-singh-ors-631f3262