# In the matter of Rupinder Singh Gill vs. Three C Universal Developers Pvt. Ltd. Through Resolution Professional Rakesh Kumar Gupta Comp. App. (AT) (Ins) No. 729 of 2021

> NCLAT judgment dated 2023-05-25. Citation: TCN-2023-NCLAT-00491. The appeal challenges an order dated 2021-09-01 by the National Company Law Tribunal, New…

- **Court:** NCLAT
- **Order date:** 25 May 2023
- **Citation:** TCN-2023-NCLAT-00491
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/rupinder-singh-gill-vs-three-c-universal-developers-pvt-ltd-through-resolution-p-679afad2

## Summary

### Background

The appeal challenges an order dated 2021-09-01 by the National Company Law Tribunal, New Delhi, which rejected an application (IVNP-05/2021) filed in IB-2582 (ND) 2019. The appellant sought permission to intervene in IA No. 655 (ND)/2021 and requested the Resolution Professional to provide a copy of IA No. 655 (ND)/2021. The NCLT declined these requests, leading to the current appeal.

## Facts

The Appellant, Rupinder Singh Gill, entered into an Agreement to sell dated 2018-10-08 with the Corporate Debtor, Challengerz Websolutions Pvt. Ltd., to purchase its entire shareholding. The Corporate Debtor was required to obtain necessary permissions and approvals within 11 months, after which the Appellant would pay the balance consideration. However, the Corporate Debtor initiated proceedings against the Appellant under Section 241-242 of the Companies Act, 2013. The Adjudicating Authority passed an interim order on 2019-04-05, granting 'status quo' on shareholding. Subsequently, the Corporate Debtor entered into 'Insolvency' on 2019-12-17. The Resolution Professional filed an application (IA No. 655/2021) seeking approval of the Resolution Plan of M/s. Ace

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## Issues and analysis

### Issue 1: Whether a copy of the Resolution Plan, approved by the Committee of Creditors (CoC) but awaiting …

**Ratio:** The court relies on previous judgments, including 'Association Jet Airways (Supra)' and

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**Reasoning:** The court reasons that the judgments cited by the Appellant do not support the claim that

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**Interpretation:** The court interprets the existing legal framework and precedents to mean that

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**Application:** Since the Resolution Plan in this case is still awaiting approval and the

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## Parties

- **Judges:** Rakesh Kuma…; Alok Sriv…
- **Appellants:** Rupinder Singh…
- **Respondents:** Challengerz…; Three C Universal…
- **Advocates:** Krishnendu…; Prachi…; +4 more

## Timeline

- **2018-10-08 — Agreement t…**: Appellant entered into an Agreement to sell with the Corporate Debtor to purchase its…
- **2019-04-05 — Interim…**: The Adjudicating Authority passed an interim…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 3(6) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-3)

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