# In the matter of AKME Projects Ltd. (Sh. Hari Kishan Sharma Vs. AKME Projects Ltd.) (IB)-55-(ND)-2018

> NCLT judgment dated 2018-07-04. Citation: TCN-2018-NCLT-01199. The case involves an application (CA 267/2018) filed by the Resolution Professional (RP) under…

- **Court:** NCLT
- **Order date:** 4 Jul 2018
- **Citation:** TCN-2018-NCLT-01199
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/akme-projects-ltd-sh-hari-kishan-sharma-vs-akme-projects-ltd-386eed07

## Summary

### Background

The case involves an application (CA 267/2018) filed by the Resolution Professional (RP) under Section 21(6A)(B) of the Insolvency and Bankruptcy Code (IBC). The application seeks a direction from the Adjudicating Authority regarding the appointment of an Insolvency Professional to represent the home buyers.

## Facts

The Resolution Professional (RP) filed an application (CA 267/2018) under Section 21(6A)(B) of the IBC, seeking the appointment of an Insolvency Professional to represent the home buyers. The application was accepted by the opposite counsels, indicating no objection to the prayer. The RP's prayer was for a specific direction from the Adjudicating Authority. The court noted the necessity for the appointed Insolvency Professional to represent the home buyers as their authorized representative and to ensure that claims are re-evaluated to compute the voting share accurately. Mr. Sanjay Kumar Grover was appointed as the Insolvency Professional. The meeting, originally scheduled for July 4th, 2018, was deferred to July 6th, 2018.

## Issues and analysis

### Issue 1: Whether an Insolvency Professional should be appointed to represent the home buyers in the …

**Ratio:** The legal principle applied is that home buyers, as creditors, are entitled to

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**Reasoning:** The court reasoned that appointing an Insolvency Professional would ensure that the home

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**Interpretation:** The interpretation of Section 21(6A)(B) of the IBC is that it provides a

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**Application:** In this specific case, the court applied the principle by appointing Mr. Sanjay

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## Parties

- **Judges:** Ina Mal…
- **Respondents:** AKME Projec…; Neeraj…

## Timeline

- **2018-07-04 — Hearing…**: Original date of the hearing…
- **2018-07-06 — Deferred Meet…**: The meeting originally scheduled for July…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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