# In the matter of Serveall Land Developers Pvt. Ltd. vs. Shailendra Ajmera RP for Harvest Hotels and Serviced Apartments Pvt. Ltd. & Anr.

> NCLAT judgment dated 2023-11-06. Citation: TCN-2023-NCLAT-00094. This is an appeal against the order dated 06.10.2023, where the Adjudicating Authority passed…

- **Court:** NCLAT
- **Order date:** 6 Nov 2023
- **Citation:** TCN-2023-NCLAT-00094
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/serveall-land-developers-pvt-ltd-vs-shailendra-ajmera-rp-for-harvest-hotels-and-abc33ce4

## Summary

### Background

This is an appeal against the order dated 06.10.2023, where the Adjudicating Authority passed an order while reserving the order on I.A. No. 5029 of 2023, which was an application for plan approval. The Adjudicating Authority directed the Counsel to file an affidavit from the sole CoC Member, stating that the member has reviewed the Plan and the Financial Statement of the Successful Resolution Applicant (SRA) and is satisfied with it. The order also stated that the member should indicate that he has tested the plan for feasibility and viability and is satisfied on both counts. The 5 service Apartments relatable to the 4 IAs may be kept apart from the approved Resolution Plan, pending their adjudication. The documents referred to in the 5th CoC meeting namely the Letter

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## Facts

Serveall Land Developers Pvt. Ltd. filed an appeal against an order dated 06.10.2023 passed by the Adjudicating Authority. The Adjudicating Authority had reserved the order on I.A. No. 5029 of 2023, which was an application for plan approval. The Adjudicating Authority directed the Counsel to file an affidavit from the sole CoC Member, stating that the member has reviewed the Plan and the Financial Statement of the Successful Resolution Applicant (SRA) and is satisfied with it. The order also stated that the member should indicate that he has tested the plan for feasibility and viability and is satisfied on both counts. The 5 service Apartments relatable to the 4 IAs may be kept apart from the approved Resolution Plan, pending their adjudication. The documents referred

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## Issues and analysis

### Issue 1: Whether the direction to keep five service apartments relatable to four IAs from the consideration …

**Ratio:** The court has the power to modify or set aside any direction that is not in accordance

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**Reasoning:** The court found that the direction to keep five service apartments relatable to four IAs

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**Interpretation:** The court interpreted the law to mean that a direction that amounts to a

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**Application:** The court applied the ratio and reasoning to the facts of the case and found

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Serveall Land…
- **Respondents:** SHAILENDRA…

## Timeline

- **2023-10-06 — Order by Adjudicating…**: The Adjudicating Authority passed an order while reserving the order on I.A. No. 5029 of…
- **2023-08-24 — Letter of…**: The Letter of Intent by the Union Bank of India dated 24.08.2023 in favour of the SRA to…

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