# In the matter of Vashisth Builders and Engineers Ltd. and Vashisth Estates Ltd. vs. Jalesh Kumar Grover & Anr.

> NCLAT judgment dated 2024-07-26. Citation: TCN-2024-NCLAT-00291. The case involves an appeal against an order passed by the Adjudicating Authority dated…

- **Court:** NCLAT
- **Order date:** 26 Jul 2024
- **Citation:** TCN-2024-NCLAT-00291
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vashisth-builders-and-engineers-ltd-and-vashisth-estates-ltd-vs-jalesh-kumar-gro-9a2963bb

## Summary

### Background

The case involves an appeal against an order passed by the Adjudicating Authority dated 22.05.2024 in IA No. 1230(CH)2024, which was filed by the Resolution Professional. The Resolution Plan submitted by the SRA has already been considered and approved by the CoC, and an application has been filed for approval of the plan, which is pending consideration. During the pending consideration, the Resolution Professional filed an application seeking leave to commence with pre-construction activities at the project site of the Corporate Debtor. The CoC, with 91% representation from homebuyers, approved the proposal where the Resolution Applicant undertook not to claim compensation if the plan is not approved. The Resolution Professional sent an e-mail dated 08.03.2024 to the

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## Facts

Vashisth Builders and Engineers Ltd. and Vashisth Estates Ltd. (in Consortium) are the Appellants in this case, being the Successful Resolution Applicant (SRA). Jalesh Kumar Grover & Anr. are the Respondents. The case concerns an appeal against an order by the Adjudicating Authority dated 22.05.2024 in IA No.1230(CH)2024 filed by the Resolution Professional. The Resolution Plan submitted by the SRA has been approved by the CoC, and its approval is pending. The Resolution Professional sought leave to commence pre-construction activities at the Corporate Debtor's project site. The CoC, representing 91% of homebuyers, approved the proposal, with the SRA undertaking not to claim compensation if the plan is not approved. The Resolution Professional sent an email dated

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order should be modified to allow the Resolution Professional …

**Ratio:** The court can modify the order of the Adjudicating Authority if it is in the interest of

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**Reasoning:** The court reasoned that the CoC, representing 91% of the homebuyers, had approved the

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**Interpretation:** This issue involves the interpretation of the powers of the appellate tribunal

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**Application:** The court applied the ratio to the facts of the case, noting that the CoC had

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Vashisth Builders…
- **Respondents:** M/s Trishul Dream…; Jalesh Kumar…
- **Advocates:** Sandeep…; Pallavi…; +4 more

## Timeline

- **2024-05-22 — Order by Adjudicating…**: Order passed by the Adjudicating Authority in IA No.1230(CH)2024, which was filed by the…
- **2024-03-07 — CoC Meet…**: CoC meeting held to discuss the…

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