# In the matter of Soni Realtors Pvt. Ltd. (IB)-609(ND)-2017

> NCLT judgment dated 2019-04-01. Citation: TCN-2019-NCLT-04231. The case involves SE Investment Ltd. V/s. Soni Realtors Pvt. Ltd. before the National Company…

- **Court:** NCLT
- **Order date:** 1 Apr 2019
- **Citation:** TCN-2019-NCLT-04231
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/soni-realtors-pvt-ltd-ib-609nd-2017-69255588

## Summary

### Background

The case involves SE Investment Ltd. V/s. Soni Realtors Pvt. Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. The Resolution Professional (RP) has submitted that the Local Commissioner appointed in the case has agreed to scrutinize the disputed claims. The case pertains to classifying home buyers or financial creditors, given that a plot has been sold to multiple parties.

## Facts

The case involves a dispute related to claims against SE Investment Ltd. V/s. Soni Realtors Pvt. Ltd. The Resolution Professional (RP) has stated that the appointed Local Commissioner will scrutinize the disputed claims. A key aspect is the classification of claimants as either home buyers or financial creditors, complicated by the fact that a plot has been sold to multiple parties. Aggrieved parties can approach the Local Commissioner to adjudicate their claims. The decision of the Local Commissioner is final for the purpose of classifying home buyers or financial creditors. The RP is required to assist the Local Commissioner in understanding the claims and the scope of work. Mr. Nagesh and Mr. Rahul, Ld. Counsels appear on behalf of the Home Buyers whose claims are

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## Issues and analysis

### Issue 1: Whether the Local Commissioner's decision on classifying claimants as home buyers or financial …

**Ratio:** The decision of the Ld. Commissioner shall be final for the purpose of classifying home

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**Reasoning:** The court explicitly states that the Local Commissioner's decision is final to streamline

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**Interpretation:** This clause grants the Local Commissioner the ultimate authority in determining

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**Application:** In this specific case, the Local Commissioner's determination will dictate the

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Respondents:** SE Investme…

## Timeline

- **2019-04-01 — Hearing…**: Hearing before the New Delhi Bench of…
- **N/A — Report F…**: Report to be filed…

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