# In the matter of Yogesh Rajendra Bothra vs. Sanjay Badrilal Punglia

> NCLAT judgment dated 2026-01-07. Citation: TCN-2026-NCLAT-00005. The appeal was filed against the order passed by the Adjudicating Authority dated 03.06.2025…

- **Court:** NCLAT
- **Order date:** 7 Jan 2026
- **Citation:** TCN-2026-NCLAT-00005
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/yogesh-rajendra-bothra-vs-sanjay-badrilal-punglia-ba3f17dc

## Summary

### Background

The appeal was filed against the order passed by the Adjudicating Authority dated 03.06.2025 in IA No.5237(MB)2023, which was filed by the Resolution Professional under Section 43 and 45 of the I&B Code against the Directors of the Corporate Debtor.

## Facts

The Resolution Professional filed an application under Section 43 and 45 of the I&B Code against the Directors of the Corporate Debtor.

The Adjudicating Authority dismissed the application.

The Appellant was Respondent No. 3 in the original application.

The Adjudicating Authority made observations regarding proceedings before the Metropolitan Magistrate against the Appellant.

The Adjudicating Authority made observations against the Resolution Professional for failing to disclose material information.

The application sought to direct Respondent No. 1 to deposit Rs. 18,66,240 with the Corporate Debtor for contravention of Section 45 of IBC, 2016.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order dismissing the application under Section 43 and 45 of …

**Ratio:** The Appellate Tribunal failed to see any grievance of the Appellant in so far as the

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**Reasoning:** The application under Section 43 and 45 filed by the Resolution Professional had been

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**Interpretation:** The Appellate Tribunal upheld the Adjudicating Authority's decision to dismiss

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**Application:** The appeal against the Adjudicating

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Yogesh Rajendra…
- **Respondents:** Sanjay Badrilal…
- **Advocates:** Vinodini Srinivasa…; Sajjad Si…; +1 more

## Timeline

- **2025-06-03 — Adjudicating Authority…**: The Adjudicating Authority passed…
- **2026-01-06 — Appeal F…**: The appeal was filed against the order…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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