# In the matter of Today Homes and Infrastructure Private Limited

> NCLT judgment dated 2023-12-05. Citation: TCN-2023-NCLT-00452. The case involves multiple applications (IA-3356/2020, IA-3629/2020, and IA-5001/2021) filed in…

- **Court:** NCLT
- **Order date:** 5 Dec 2023
- **Citation:** TCN-2023-NCLT-00452
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/today-homes-and-infrastructure-private-limited-1606653b

## Summary

### Background

The case involves multiple applications (IA-3356/2020, IA-3629/2020, and IA-5001/2021) filed in the matter of IB-2130(ND)/2019, relating to the Corporate Insolvency Resolution Process (CIRP) of M/s. Today Homes & Infrastructure Private Limited. Dynacon Projects Private Limited initiated CIRP against Today Homes. Nilesh Sharma, the Resolution Professional (RP), filed IA-3356/2020 seeking directions to the erstwhile land owners (Respondents 1-4) to restore peaceful possession of land admeasuring 10.81 acres in Sector 73, Gurugram, where the Corporate Debtor is constructing a group housing project named "Canary Greens." The RP also sought directions to the Gurugram district administration to assist in securing possession and action against the respondents

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## Facts

M/s. Dynacon Projects Private Limited initiated CIRP against M/s. Today Homes & Infrastructure Private Limited under Section 9 of the IBC, 2016. The Adjudicating Authority admitted the application on 31.10.2019 and initiated CIRP, declaring a moratorium under Section 14 of the IBC. Nilesh Sharma was appointed as the Resolution Professional (RP) on 09.01.2020. The dispute concerns land admeasuring 35.2062 acres in Behrampur, Gurugram, Haryana, owned by Shri Mordhwaj Singh, Shri Vikramjit Singh, Shri Ram Narayna Singh, and Shri Bhim Singh. In 2007, the land owners entered into a Development Agreement with M/s. New India City Developers Private Limited, granting development rights. Disputes arose, leading to arbitration and a Consent Award dated 05.09.2009. The land

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## Issues and analysis

### Issue 1: Whether the Development Agreement entered into between the land owners and New India gives right to …

**Ratio:** The ratio is based on the interpretation of the Development Agreement and the rights

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**Reasoning:** The court's reasoning would involve analyzing the clauses of the Development Agreement to

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**Interpretation:** The interpretation involves understanding the legal implications of a

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**Application:** The application involves applying the interpretation of the Development

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## Parties

- **Judges:** ATUL CHAT…; BACHU VENKAT…
- **Appellants:** Nilesh S…
- **Respondents:** M/s. Today Homes…; Mordhwaj…

## Timeline

- **2007-03-03 — Development A…**: Land owners entered into a Development Agreement with M/s. New India City Developers…
- **2009-05-09 — Consent…**: A Consent Award was passed between…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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