The appeal arises from an order dated 02.07.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench-I) in I.A. No. 2105(CH)/2023 in C.P. (IB) No. 248/Chd/Hry/2019, which dismissed the Appellant's application challenging the constitution of the Committee of Creditors (CoC).
Corporate Debtor-Chandigarh Overseas Pvt. Ltd. was admitted into CIRP on 27.02.2023.
The Resolution Professional constituted the Committee of Creditors on 28.07.2023.
The Appellant filed IA No. 2105 of 2023 challenging the constitution of the CoC and seeking exclusion of Accord Infra Developers and Mohali Hitech Builders.
The Adjudicating Authority dismissed IA No. 2105 of 2023 on 02.07.2025.
The Appellant argued that Respondents No.2 and 3 were speculative investors and not genuine allottees/homebuyers.
The Respondents argued that they had made payments for allotments and were rightly included as financial creditors.
The Resolution Plan was approved by the CoC with 99.21% vote share.
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Corporate Debtor-Chandig…
The Resolution…
The appeal arises from an order dated 02.07.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench-I) in I.A. No. 2105(CH)/2023 in C.P. (IB) No. 248/Chd/Hry/2019, which dismissed the Appellant's application challenging the constitution of the Committee of Creditors (CoC).
Corporate Debtor-Chandigarh Overseas Pvt. Ltd. was admitted into CIRP on 27.02.2023.
The Resolution Professional constituted the Committee of Creditors on 28.07.2023.
The Appellant filed IA No. 2105 of 2023 challenging the constitution of the CoC and seeking exclusion of Accord Infra Developers and Mohali Hitech Builders.
The Adjudicating Authority dismissed IA No. 2105 of 2023 on 02.07.2025.
The Appellant argued that Respondents No.2 and 3 were speculative investors and not genuine allottees/homebuyers.
The Respondents argued that they had made payments for allotments and were rightly included as financial creditors.
The Resolution Plan was approved by the CoC with 99.21% vote share.
Corporate Debtor-Chandig…
The Resolution…