# In the matter of Opulent Infradevelopers Pvt. Ltd.

> Read the full IBC case summary for In the matter of Opulent Infradevelopers Pvt. Ltd.. NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01715.

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01715
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/opulent-infradevelopers-pvt-ltd-b770152e

## Summary

### Background

The Resolution Professional filed an application under Section 66 of the Insolvency and Bankruptcy Code, 2016, seeking directions against the suspended directors of the Corporate Debtor for alleged fraudulent transactions and diversion of funds, including unjustified donations, non-collection of interest on loans, falsification of books by adjustment, and booking of false/non-business-related expenses.

## Facts

The Adjudicating Authority initiated the Corporate Insolvency Resolution Process (CIRP) for Opulent Infradevelopers Private Limited on July 12, 2022, based on an application by Genesis Comtrade Pvt. Ltd., the financial creditor. Mr. Devendra Umrao was appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional. Following his appointment, the Resolution Professional requested information and documents from the suspended Board of Directors and advised them to cease all payment transactions.

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## Issues and analysis

### Issue 1: Whether the donations made by the Corporate Debtor to non-business entities constitute fraudulent…

**Ratio:** Disbursements made by a corporate debtor to non-business entities without a nexus to its…

**Reasoning:** The Adjudicating Authority observed that the Corporate Debtor made donations aggregating…

**Interpretation:** Section 66(1) of the Code is interpreted to cover transactions where the…

**Application:** The Corporate Debtor's donations of Rs. 3.10 crore to three trusts, made during…

## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Advocates:** For the Applicant:…; Abhishek…; +4 more

## Timeline

- **July 12, 2022 — CIRP Commen…**: The Adjudicating Authority admitted the company petition (CP (IB) No. 304 of 2022) and…
- **July 12, 2022 — RP Appoin…**: Mr. Devendra Umrao was appointed as the Interim Resolution Professional and later…

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