# In the matter of Tejinder Pal Setia vs. Arvind Kumar (RP) and Ors.

> NCLAT judgment dated 2026-03-10. Citation: TCN-2026-NCLAT-00049. The appeal arises from an order dated 02.07.2025 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 10 Mar 2026
- **Citation:** TCN-2026-NCLAT-00049
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/tejinder-pal-setia-vs-arvind-kumar-c9ebc9ff

## Summary

### Background

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).

## Facts

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.

## Issues and analysis

### Issue 1: Whether Respondents No.2 and 3 can be considered as allottees under IBC, despite allegations of …

**Ratio:** The IBC does not discriminate between a homebuyer who purchases a unit for self-use or

…

**Reasoning:** The NCLAT held that the Appellant had tried to unnecessarily transpose the provisions of

…

**Interpretation:** The term 'allottee' under IBC should be interpreted broadly to include those

…

**Application:** The NCLAT applied this principle to the present case, finding that Respondents

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Tejinder Pa…
- **Respondents:** Chandigarh…; Sh. Arvind…; +4 more
- **Advocates:** Paras M…; Prakhar M…; +6 more

## Timeline

- **2023-02-27 — CIRP Init…**: Corporate Debtor-Chandigarh Overseas…
- **2023-07-28 — CoC Form…**: The Resolution Professional…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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