# In the matter of Sukhinder Singh & Anr.
Vs.
Mr. Sumat Kumar Gupta, Resolution Professional of
International Mega Food Park Ltd. & Ors. Comp. App. (AT) (Ins.) No. 715 of 2022

> NCLAT judgment dated 2022-07-07. Citation: TCN-2022-NCLAT-00383. This is an appeal against the order dated 30.05.2022 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 7 Jul 2022
- **Citation:** TCN-2022-NCLAT-00383
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sukhinder-singh-anr-vs-mr-sumat-kumar-gupta-resolution-professional-of-internati-3f12f183

## Summary

### Background

This is an appeal against the order dated 30.05.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh, regarding IA No. 716/2020. The applicant sought direction for the respondent to deposit the performance guarantee immediately and, in case of failure, to forfeit the deposit of Rs. 10 lakhs given as EMD, as well as partial Performance Security of Rs. 1 Crore. Further direction was sought that in case the respondent agrees to take over the Corporate Debtor as per the Resolution Plan already approved by the Committee of Creditors (CoC), he may be asked to match the resolution bid of Rs. 75.50 Crores. Further direction that in case of failure of the Respondent/Resolution Applicant to comply with the condition of the

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## Facts

The Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, passed an order on 30.05.2022 regarding IA No. 716/2020. The applicant sought directions for the respondent to deposit the performance guarantee immediately and, in case of failure, to forfeit the deposit of Rs. 10 lakhs given as EMD, as well as partial Performance Security of Rs. 1 Crore. The applicant also sought a direction that if the respondent agrees to take over the Corporate Debtor as per the Resolution Plan already approved by the Committee of Creditors (CoC), he may be asked to match the resolution bid of Rs. 75.50 Crores. Further, the applicant sought permission to withdraw IA 615 & 616/2020 regarding approval of the Resolution Plan and to direct the CoC to negotiate with the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order granting one month's time to the H-1 bidder to comply …

**Ratio:** The Adjudicating Authority has the discretion to grant reasonable opportunities to

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**Reasoning:** The Adjudicating Authority granted one month's time as a last opportunity to the H-1

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**Interpretation:** The Adjudicating Authority's decision to grant a final opportunity to the H-1

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**Application:** The NCLAT upheld the Adjudicating Authority's order, finding that it was a

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## Parties

- **Judges:** Ashok Bh…; M. Satyanarayana…; +1 more
- **Appellants:** Sh. Sukhinder…
- **Respondents:** International…; Sumat Kumar…

## Timeline

- **2022-05-30 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, passed an…
- **2022-07-05 — Hearing by…**: NCLAT heard Learned…

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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/sukhinder-singh-anr-vs-mr-sumat-kumar-gupta-resolution-professional-of-internati-3f12f183