# In the matter of Ramprasad Vishvanath Gupta vs. Dinesh Kumar Deora & Ors.

> NCLAT judgment dated 2025-05-21. Citation: TCN-2025-NCLAT-00370. Three appeals were filed by Ramprasad Vishvanath Gupta, a homebuyer, challenging orders…

- **Court:** NCLAT
- **Order date:** 21 May 2025
- **Citation:** TCN-2025-NCLAT-00370
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/ramprasad-vishvanath-gupta-vs-dinesh-kumar-deora-ors-832dcb10

## Summary

### Background

Three appeals were filed by Ramprasad Vishvanath Gupta, a homebuyer, challenging orders passed by the Adjudicating Authority (NCLT), Mumbai Bench, dated 24.01.2025, 28.01.2025, and 12.02.2025. These appeals relate to IA No. 22/MB/2025, IA No. 24/MB/2025, and IA (IBC)(Plan)/102(MB)2024, respectively.

## Facts

CIRP was initiated against Snehanjali and S.B. Developers Private Limited based on an application by Santosh Ananda Shetty and other homebuyers.

The CoC was constituted on 26.03.2024 and later reconstituted after further claims were received.

A resolution plan submitted by La Mer Developers Limited and Neel Builders & Developers was approved with 83.46% voting share.

The appellant, Ramprasad Vishvanath Gupta, filed IA No.22/MB/2025 under Section 43 of the I&B Code seeking declaration of certain transactions as preferential transactions.

The appellant also filed IA No.24/MB/2025 objecting to the resolution plan of La Mer Developers Limited and Neel Builders & Developers.

The Adjudicating Authority rejected both IAs and approved the resolution plan.

…

## Issues and analysis

### Issue 1: Whether a single homebuyer can challenge the approval of a resolution plan approved by the …

**Ratio:** A single homebuyer cannot challenge the approved Resolution Plan when the CoC has

…

**Reasoning:** The tribunal relied on the judgment of the Hon'ble Supreme Court in Jaypee Kensington

…

**Interpretation:** The decision emphasizes the importance of the commercial wisdom of the CoC and

…

**Application:** The principle was applied to dismiss the appellant's challenge to the

…

## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Ramprasad…; Homebu…
- **Respondents:** Snehanjali and…; Dinesh Kuma…; +5 more
- **Other parties:** Santosh Ananda…
- **Advocates:** Diwakar…; Rahul Ch…; +6 more

## Timeline

- **2025-01-24 — Order Da…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench…
- **2025-01-28 — Order Da…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

---

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/ramprasad-vishvanath-gupta-vs-dinesh-kumar-deora-ors-832dcb10