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

> NCLAT judgment dated 2023-01-12. Citation: TCN-2023-NCLAT-00776. 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-00776
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sunil-kumar-agrawal-vs-new-okhla-industrial-development-authority-company-appeal-ecc52843

## 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. The New Okhla Industrial Development Authority sought a direction to the Resolution Professional (RP) to make payments towards outstanding dues that accrued during the Corporate Insolvency Resolution Process (CIRP). The Authority and M/s GSS Procon Pvt. Ltd. (Corporate Debtor) had entered into a lease deed on 19.08.2011 for a plot of land. The Authority claimed dues related to lease premium and lease rent. The Adjudicating Authority allowed the application, leading to the present appeal.

## Facts

On 19.08.2011, the New Okhla Industrial Development Authority (Authority) entered into a lease deed with M/s GSS Procon Pvt. Ltd. (Corporate Debtor) for a plot of land. The lessee was required to pay a lease premium of Rs. 24,29,66,779.00, with 10% paid upfront and the balance to be paid in installments. The lessee was also obligated to pay lease rent. An application under Section 7 of the Insolvency and Bankruptcy Code was admitted on 10.10.2019, initiating CIRP. The Authority filed a claim of Rs. 32,96,19,803/-. The resolution plan was approved by the CoC on 04.12.2020. The Authority submitted a letter on 04.06.2021, highlighting dues towards lease premium and rent. The Authority filed an application before the Adjudicating Authority on 27.09.2021, seeking payment of

…

## 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

…

**Reasoning:** The court reasoned that the explanation to Section 14(1)(d) provides that certain rights

…

**Interpretation:** The interpretation of Section 14(1)(d) and its explanation is that while the

…

**Application:** The court applied this reasoning to the facts by stating that the Adjudicating

…

## Parties

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

## Timeline

- **2011-08-19 — Lease Deed Ex…**: The New Okhla Industrial Development Authority entered into a lease deed with M/s GSS…
- **2019-10-10 — CIRP Init…**: Application under Section 7 of the…

## 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)

---

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/sunil-kumar-agrawal-vs-new-okhla-industrial-development-authority-company-appeal-ecc52843