# In the matter of Chandigarh Overseas Pvt. Ltd.

> NCLT judgment dated 2025-07-02. Citation: TCN-2025-NCLT-00842. The present application, IA (I.B.C)/603(CH)2025 in CP(IB) No. 248/Chd/Chd/2019, was filed by a…

- **Court:** NCLT
- **Order date:** 2 Jul 2025
- **Citation:** TCN-2025-NCLT-00842
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chandigarh-overseas-pvt-ltd-d63dd848

## Summary

### Background

The present application, IA (I.B.C)/603(CH)2025 in CP(IB) No. 248/Chd/Chd/2019, was filed by a home buyer under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), read with Rule 11 of NCLT Rules, 2016, and Regulation 11 of CIRP Regulations. The applicant sought orders to declare certain claims admitted by the respondent as false, fabricated, collusive, and fraudulent, and requested a re-examination of the list of creditors, a revised list of creditors, placement of documents pertaining to disputed claims on record, and an independent forensic audit of the corporate debtor's financial records.

## Facts

The application was filed by a home buyer under Section 60(5) of the IBC.

The applicant sought to declare certain claims admitted by the respondent as false and fraudulent.

The applicant alleged that the RP admitted claims of related parties and that there were instances of duplicity in the list of creditors.

The RP argued that the application was not maintainable and aimed to sabotage the resolution plan approval.

The suspended director, Tejinder Pal Setia, had also filed a similar application challenging the admission of claims of Accord Infratech.

The tribunal found that the applicant had not disclosed his participation in the voting on the resolution plan.

The tribunal found that the applicant had not raised the issues before the RP or the CoC.

…

## Issues and analysis

### Issue 1: Whether the application filed by the home buyer …

**Ratio:** The tribunal held that the

…

**Reasoning:** The tribunal found that the applicant had not disclosed his participation in the voting

…

**Interpretation:** The tribunal interpreted Section 60(5) of the IBC and Rule 11 of NCLT Rules,

…

**Application:** The tribunal applied this interpretation to the facts of the case and found

…

## Parties

- **Judges:** Harnam Singh…; SHISHIR A…
- **Appellants:** Rajeev Kh…
- **Respondents:** Chandigarh…; Sh. Arvind…; +1 more
- **Other parties:** Kone Elevator…; Jagbir…
- **Advocates:** Jayesh…; Atul V.…

## Timeline

- **N/A — Filing of App…**: The present Application has been filed by a home buyer u/s 60(5) of IBC read with Rule 11…
- **2024-03-19 — Voting on Resolution…**: The Applicant lacks locus to file the Application which has been filed after more than 1…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/chandigarh-overseas-pvt-ltd-d63dd848