# In the matter of Sunil Kumar Aggarwal Vs. New Okhla Industrial Development Authority & Ors. CA(AT)(Insolvency) No. 775-2019

> NCLAT judgment dated 31 Jul 2019. Citation: TCN-2019-NCLAT-00396. This appeal was filed by Mr. Sunil Kumar Aggarwal, who is the Authorized Representative of…

- **Court:** NCLAT
- **Order date:** 31 Jul 2019
- **Citation:** TCN-2019-NCLAT-00396
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-kumar-aggarwal-vs-new-okhla-industrial-development-authority-ors-ca-ef9c6015

## Summary

### Background

This appeal was filed by Mr. Sunil Kumar Aggarwal, who is the Authorized Representative of Home Buyers (Allottees) of M/s. Granite Gate Properties Pvt. Ltd. (Corporate Debtor). The appeal challenges an order issued by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, on June 10, 2019. The impugned order concerned a claim filed by the New Okhla Industrial Development Authority (NOIDA) before the Interim Resolution Professional (IRP) in the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.

## Facts

Mr. Sunil Kumar Aggarwal, as the Authorized Representative of Home Buyers (Allottees) of M/s. Granite Gate Properties Pvt. Ltd. (Corporate Debtor), filed an appeal against an order dated June 10, 2019. This order was issued by the Adjudicating Authority, specifically the National Company Law Tribunal, Principal Bench, New Delhi. The appeal concerned a claim submitted by the New Okhla Industrial Development Authority (NOIDA) during the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the Interim Resolution Professional (IRP) can reject a claim filed by the New Okhla…

**Ratio:** A claim related to land allotted under a first charge, as in the case of NOIDA, is…

**Reasoning:** The Adjudicating Authority reasoned that the provisions of Article 137 of the schedule to…

**Interpretation:** The court interpreted the Limitation Act, 1963, specifically Articles 62 and…

**Application:** Applying this interpretation, the Adjudicating Authority directed the IRP not…

## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Advocates:** U.K. Chau…; Manisha Cha…; +3 more

## Timeline

- **June 10, 2019 — Impugned…**: The Adjudicating Authority (NCLT, Principal Bench, New Delhi) passed an order regarding…
- **July 31, 2019 — Appeal Filed and…**: Mr. Sunil Kumar Aggarwal preferred an appeal against the Adjudicating Authority's order,…

## Legal provisions

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

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