# In the matter of Somnath Barik & Ors. vs. Sarvottam Realcon (Pvt.) Ltd. & Ors.

> NCLAT judgment dated 2024-12-05. Citation: TCN-2024-NCLAT-00047. The appeal challenges an order from the Adjudicating Authority that dismissed an application…

- **Court:** NCLAT
- **Order date:** 5 Dec 2024
- **Citation:** TCN-2024-NCLAT-00047
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/somnath-barik-ors-vs-sarvottam-realcon-b7699445

## Summary

### Background

The appeal challenges an order from the Adjudicating Authority that dismissed an application seeking various declarations regarding land ownership, financial creditor status, and the authority of certain individuals to represent the ALT Society, among other reliefs.

## Facts

The appellants, Somnath Barik & Ors., filed an appeal challenging an order dated July 30, 2024, passed by the Adjudicating Authority in I.A. No. 4907(ND)/2021 in CP No. IB 901(ND)/2020. This application sought several declarations, including that the land owned by the ALT Society could not be part of insolvency proceedings, that the ALT Society was not a financial creditor under Section 5(8) of the Code, and that certain individuals were not authorized to represent the society. An application for condonation of a 12-day delay in filing the appeal (I.A. No. 7957/2024) was filed, citing that the free copy of the order was made available on August 5, 2024, and time was consumed in arranging documents. The NCLAT found the cause shown sufficient and condoned the

…

## Issues and analysis

### Issue 1: Whether the land owned by the ALT Society …

**Ratio:** An approved Resolution Plan is binding on all stakeholders, and no relief can be granted

…

**Reasoning:** The Adjudicating Authority had dismissed the application seeking this declaration. The

…

**Interpretation:** The court interpreted **Section 31(1)** of the Insolvency and Bankruptcy Code,

…

**Application:** Since the Resolution Plan for the Corporate Debtor had been approved and was

…

## Parties

- **Judges:** Ashok Bh…; Arun Ba…
- **Appellants:** Somnath…; Somnath Barik &…
- **Respondents:** Sarvottam Realcon…; Sarvottam Realcon…; +1 more
- **Advocates:** Ankur M…; Yashika S…; +10 more

## Timeline

- **July 30, 2024 — Adjudicating Authority…**: The Adjudicating Authority passed the impugned order in I.A. No. 4907(ND)/2021 in CP No.…
- **August 5, 2024 — Free copy of Order…**: The free copy of the Order was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

---

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/somnath-barik-ors-vs-sarvottam-realcon-b7699445