# In the matter of Sare Gurugram Private Limited

> NCLT judgment dated 2023-08-21. Citation: TCN-2023-NCLT-01985. The interlocutory application IA No.2409 (PB) 2023 was filed by Mr. Ashish Singhal, an allottee…

- **Court:** NCLT
- **Order date:** 21 Aug 2023
- **Citation:** TCN-2023-NCLT-01985
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sare-gurugram-private-limited-0e00b176

## Summary

### Background

The interlocutory application IA No.2409 (PB) 2023 was filed by Mr. Ashish Singhal, an allottee in the 'Green Parc' project of the Corporate Debtor, Sare Gurugram Private Limited. The applicant sought directions for the Resolution Professional to include his claim in the list of financial creditors, condone the delay in filing the claim, and recognize the applicant's rights within the resolution plan. The applicant's claim was rejected by the RP due to belated submission.

## Facts

Mr. Ashish Singhal, an allottee in the 'Green Parc' project of Sare Gurugram Private Limited, filed IA No.2409 (PB) 2023 seeking inclusion of his claim as a financial creditor. The Resolution Professional (RP) rejected his claim due to a delay in submission. The public announcement for submission of claims was made on 2021-03-12, with a deadline of 2021-03-24. The applicant submitted his claim on 2023-04-02, approximately 739 days late. The applicant cited relocation to Singapore in July 2015 as the reason for the delay. The Resolution Plan for the Corporate Debtor had already been approved by the Adjudicating Authority on 2023-04-24. The applicant argued that the delay should be condoned based on the NCLAT's judgment in "Puneet Kaur v/s K V Developers,"

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should condone the delay of approximately 739 days in submitting …

**Ratio:** The principle of finality and closure in insolvency proceedings, as well as the

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**Reasoning:** The Adjudicating Authority reasoned that allowing such a significant delay would

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**Interpretation:** The 'Clean-Slate Principle' aims to provide certainty to the resolution

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**Application:** The Adjudicating Authority applied the 'Clean-Slate Principle' to the facts of

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** Ashish Si…
- **Respondents:** M/s Sare Gurugram…; Ajit Gyanchand…

## Timeline

- **2015-07-01 — Applicant Relocated to…**: Mr. Ashish Singhal relocated…
- **2021-03-12 — Public Annou…**: Resolution Professional made a public…

## 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)

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