# In the matter of Sunil Kumar Agrawal vs. New Okhla Indusrial Developers Authority Company Appeal (AT) (Ins.) No. 622 of 2022

> NCLAT judgment dated 2023-01-12. Citation: TCN-2023-NCLAT-00775. The case involves an appeal against an order dated 12.04.2022, concerning an application (IB)…

- **Court:** NCLAT
- **Order date:** 12 Jan 2023
- **Citation:** TCN-2023-NCLAT-00775
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-kumar-agrawal-vs-new-okhla-indusrial-developers-authority-company-appeal-259633c7

## Summary

### Background

The case involves an appeal against an order dated 12.04.2022, concerning an application (IB) 1896 (ND)/2019 filed under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, and Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016, read with Rule 11 of the NCLT Rules, 2016. The New Okhla Industrial Development Authority sought a direction to the Resolution Professional (RP) (Appellant) to make payments towards outstanding dues that became due during the CIRP. The Adjudicating Authority allowed the application, leading to the current appeal.

## Facts

The New Okhla Industrial Development Authority (Authority) and M/s GSS Procon Pvt. Ltd. (Corporate Debtor) entered into a lease deed on 19.08.2011 for a plot of land. The lessee (GSS Procon) was required to pay a lease premium and lease rent. An application under Section 7 of the Insolvency and Bankruptcy Code (IBC) was admitted on 10.10.2019, initiating the Corporate Insolvency Resolution Process (CIRP). The Authority submitted its claim of Rs. 32,96,19,803/- to the Resolution Professional (RP) on 31.12.2019. A resolution plan was approved by the CoC on 04.12.2020 with a 93.43% voting share. The RP filed an application for approval of the resolution plan, which is pending. The Authority sent a letter on 04.06.2021 to the RP highlighting outstanding dues towards lease

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has rightly applied the explanation under Section 14(1)(d) of …

**Ratio:** The ratio is that the 'similar grant or right' mentioned in the explanation to Section

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**Reasoning:** The tribunal reasoned that Section 14 of the Code deals with the moratorium, and Section

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**Interpretation:** The interpretation of Section 14(1)(d) and its explanation is crucial. The

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**Application:** The tribunal applied the ratio and reasoning to the specific facts by

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## Parties

- **Judges:** Rakesh Kuma…; Naresh Sa…
- **Appellants:** Sunil Kumar…
- **Respondents:** GSS Procon Pvt.…; New Okhla…

## Timeline

- **2011-08-19 — Lease Deed Ex…**: The Authority entered into a lease deed with M/s GSS Procon Pvt. Ltd. (CD) for a plot of…
- **2019-10-10 — CIRP Init…**: Application under Section 7…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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