# In the matter of Saurabh Kumar Pandey vs. Ambica Enclave Pvt. Ltd.

> NCLAT judgment dated 2024-09-09. Citation: TCN-2024-NCLAT-00214. This is an appeal filed by the suspended Director of Proplarity Infrastructure Pvt. Ltd.…

- **Court:** NCLAT
- **Order date:** 9 Sept 2024
- **Citation:** TCN-2024-NCLAT-00214
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/saurabh-kumar-pandey-vs-ambica-enclave-pvt-ltd-01e93b7f

## Summary

### Background

This is an appeal filed by the suspended Director of Proplarity Infrastructure Pvt. Ltd. challenging the order dated 03.07.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, which admitted a Section 7 application filed by the Financial Creditors (Respondents 1 to 4). The Appellant claims to have settled with the Financial Creditors, but the Interim Resolution Professional (IRP) constituted a Committee of Creditors (CoC) including parties the Appellant claims are related and whose claims were wrongly admitted.

## Facts

Proplarity Infrastructure Pvt. Ltd. is the Corporate Debtor. Respondent Nos. 1 to 4, claiming to be Financial Creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) alleging a default of Rs. 10,21,07,880/- as per a loan agreement dated 13.10.2016. The Adjudicating Authority admitted the application on 03.07.2024. The Interim Resolution Professional (IRP) issued a publication on 12.07.2024 inviting claims, with a deadline of 23.07.2024. The IRP constituted a Committee of Creditors (CoC) on 25.07.2024. The Appellant, the suspended Director of the Corporate Debtor, claims to have settled with the Financial Creditors. The Appellant challenges the inclusion of M/s Creta Infrastructure Pvt. Ltd. and M/s Proplarity Infratech Pvt.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order admitting the Section 7 application should be interfered …

**Ratio:** The NCLAT generally refrains from interfering with admission orders when debt and default

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**Reasoning:** The court noted that the debt and default on the part of the Corporate Debtor were not

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**Interpretation:** This reaffirms the principle that if the existence of debt and default is not

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**Application:** Since the Appellant did not dispute the debt and default, the NCLAT upheld the

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Saurabh Kumar…
- **Respondents:** Proplarity…; M/s. Ambica…
- **Advocates:** Abhishek…; Sugam M…; +10 more

## Timeline

- **2016-10-13 — Loan Agreeme…**: Date of the loan agreement between the…
- **2024-04-01 — Section 7 Application…**: Financial Creditors filed an…

## 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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