# In the matter of Subhash Chander Chauhan vs. Kaliber Associates Pvt. Ltd. & Ors.

> NCLAT judgment dated 2025-10-17. Citation: TCN-2025-NCLAT-00526. The case involves an appeal against the order of the Adjudicating Authority (National Company…

- **Court:** NCLAT
- **Order date:** 17 Oct 2025
- **Citation:** TCN-2025-NCLAT-00526
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/subhash-chander-chauhan-vs-kaliber-associates-pvt-ltd-ors-2a8f5672

## Summary

### Background

The case involves an appeal against the order of the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench) which admitted a Section 7 application under the Insolvency and Bankruptcy Code, 2016, initiating CIRP against West Star Constructions Pvt. Ltd. The appellant is the Suspended Director of the Corporate Debtor.

## Facts

The Appellant is the Suspended Director of Corporate Debtor (West Star Constructions Pvt. Ltd.).

Respondent No.1-Kaliber approached the Corporate Debtor for consultancy services in relation to a commercial real estate project in October 2010.

Respondent No.1-Kaliber agreed to pay ₹1,00,00,000/- as a deposit to facilitate market research and analysis.

The Corporate Debtor (West Star) received ₹1,00,00,000/- from Respondent No.1-Kaliber on 20.11.2010.

The Corporate Debtor (West Star) raised a proforma invoice dated 15.12.2012 for ₹1,20,00,000/-.

Respondent No.1-Kaliber filed an application under Section 7 before the Adjudicating Authority, registered as C.P. (IB) No. 41/ND/2024.

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## Issues and analysis

### Issue 1: Whether the disbursed amount constitutes a …

**Ratio:** The balance sheets of the Corporate Debtor consistently reflect Rs. 1,00,00,000/- as

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**Reasoning:** The disbursal, coupled with its classification as a liability, satisfies the requirement

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**Interpretation:** The transaction qualifies as a

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**Application:** The Adjudicating Authority was correct in

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## Parties

- **Judges:** Mohammad Faiz…; Arun Ba…
- **Appellants:** Subhash Chander…
- **Respondents:** West Star…; M/s Kaliber…
- **Advocates:** Saurabh…; Prayag…; +6 more

## Timeline

- **2024-02-14 — Order Da…**: Order dated 14.02.2025, passed by the 'Adjudicating Authority' (National Company Law…
- **2025-10-17 — Judgement…**: Judgement date of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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