# In the matter of Salman Akbar Jalauddin vs. Sanyam Goel, IRP of International Land Developers Pvt. Ltd & Ors.

> NCLAT judgment dated 2024-03-07. Citation: TCN-2024-NCLAT-00592. The case involves a Company Appeal (AT) (Insolvency) No. 493 of 2024 before the National…

- **Court:** NCLAT
- **Order date:** 7 Mar 2024
- **Citation:** TCN-2024-NCLAT-00592
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/salman-akbar-jalauddin-vs-sanyam-goel-irp-of-international-land-developers-pvt-l-82a2ba24

## Summary

### Background

The case involves a Company Appeal (AT) (Insolvency) No. 493 of 2024 before the National Company Law Appellate Tribunal, Principal Bench, New Delhi. The appellant, Salman Akbar Jalauddin (Suspended Management of International Land Developers Pvt. Ltd), is in dispute with the respondent, Mr. Sanyam Goel, IRP of M/s. International Land Developers Pvt. Ltd & Ors. The appellant has settled with some allottees who initiated Section 7 applications but still owes a substantial amount.

## Facts

Salman Akbar Jalauddin (Suspended Management of International Land Developers Pvt. Ltd) filed an appeal against Mr. Sanyam Goel, IRP of M/s. International Land Developers Pvt. Ltd & Ors. The appellant claimed to have settled with 23 out of 46/48 allottees who initiated Section 7 applications and paid a substantial amount. However, the respondent's counsel refuted this statement. The total amount claimed in Form-1 was Rs.19,48,28,414/-, and after giving credit for the amount already paid/settled, Rs.10,65,00,000/- is still due. The appellant expressed readiness to deposit the entire amount in court, proposing to deposit 1/4th of the amount within a week and the rest within four weeks. The respondent's counsel sought time to file a reply and obtain instructions

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## Issues and analysis

### Issue 1: Whether the appellant has indeed settled with the claimed number of allottees and paid the stated …

**Ratio:** The principle of verifying factual claims and ensuring transparency in insolvency

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**Reasoning:** The court needs to ascertain the veracity of the appellant's claims regarding settlements

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**Interpretation:** This involves interpreting the evidence presented by both parties and

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**Application:** The court will examine the settlement agreements and payment records to verify

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Salman Akbar…
- **Respondents:** International…; Sanyam…
- **Advocates:** Abhijeet…; Aishvarya…; +6 more

## Timeline

- **2024-03-07 — Appellant's Su…**: Appellant's counsel submits settlement with 23 allottees and readiness to deposit…
- **2024-04-08 — Next Hearin…**: Appeal listed for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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