# In the matter of Sparkspell Homes Private Limited

> NCLT judgment dated 2023-09-18. Citation: TCN-2023-NCLT-01558. The case involves an application filed by Geeti Bhagat seeking the condonation of delay and…

- **Court:** NCLT
- **Order date:** 18 Sept 2023
- **Citation:** TCN-2023-NCLT-01558
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/sparkspell-homes-private-limited-da9489e4

## Summary

### Background

The case involves an application filed by Geeti Bhagat seeking the condonation of delay and direction to the Resolution Professional to admit her claim in the Corporate Insolvency Resolution Process (CIRP) of M/S Sparkspell Homes Pvt. Ltd. The applicant claimed to have entered into an agreement with the Corporate Debtor for acquiring 18 flats in a Group Housing Project. The Corporate Debtor had undertaken to buy back the flats, but cheques issued for this purpose bounced. The applicant submitted her claim in FORM CA, but received no further communication from the Resolution Professional.

## Facts

M/S Sparkspell Homes Pvt. Ltd. (Corporate Debtor) launched a Group Housing Project named "Pratham" in Lucknow. Shri Deepak Gupta HUF filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, leading to the Corporate Debtor's admission into CIRP on August 28, 2019. Geeti Bhagat (Applicant) entered into an agreement with the Corporate Debtor on March 31, 2014, to acquire 18 flats, with a buyback arrangement. Cheques issued by the Corporate Debtor for the buyback bounced. The applicant submitted a claim in FORM CA on March 10, 2021, and responded to queries from the Resolution Professional (RP) via email on May 5, 2021. The RP refuted the applicant's allegation of non-publication of CIRP, stating that public announcements were made on

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## Issues and analysis

### Issue 1: Whether the delay in filing the claim …

**Ratio:** The court has the discretion to condone the delay in filing the claim, considering the

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**Reasoning:** The court considered the submissions of both parties regarding the delay and the reasons

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**Interpretation:** The court interpreted the relevant provisions of the Insolvency and Bankruptcy

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**Application:** The court applied the ratio to the specific facts of the case, considering the

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Geeti B…
- **Respondents:** M/S Sparkspell…; Anuj Kumar…

## Timeline

- **2014-03-31 — Agreement between…**: Applicant entered into an agreement with the Corporate Debtor to acquire 18 flats with a…
- **2019-08-28 — CIRP Init…**: Corporate Debtor admitted into CIRP based on…

## 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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