# In the matter of Today Homes Noida Private Limited IA No. 3640-2022 in CP (IB) No. 923(PB)-2018

> NCLT judgment dated 2022-11-30. Citation: TCN-2022-NCLT-00283. The case involves an application filed under Section 60(5) of the IBC, 2016, seeking reliefs…

- **Court:** NCLT
- **Order date:** 30 Nov 2022
- **Citation:** TCN-2022-NCLT-00283
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/today-homes-noida-private-limited-ia-no-3640-2022-in-cp-ib-no-923pb-2018-3811acd6

## Summary

### Background

The case involves an application filed under Section 60(5) of the IBC, 2016, seeking reliefs related to the admission of a claim by the applicant, who is a homebuyer, after the approval of a resolution plan. The applicant had paid a significant amount towards the allotment of flats in a project by the Corporate Debtor. The applicant's claim was initially rejected by the RP as time-barred. The applicant then filed an application against the rejection, which was dismissed. Appeals to NCLAT and the Supreme Court were also dismissed, with the Supreme Court granting liberty to pursue other remedies.

## Facts

Sunil Handa & Ors, the financial creditor, initiated CIRP against Today Homes Noida Private Limited, the corporate debtor. SP Probuild LLP, the applicant, sought admission of its claim after the resolution plan's approval. The applicant had paid Rs. 12,70,05,642 towards the allotment of 50 flats, with possession of only 9 flats handed over in 2018. The RP rejected the applicant's claim as time-barred on 24.03.2021. The CIRP was initiated on 20.08.2019. The applicant's earlier application (IA No. 3213/2021) against the rejection was dismissed, and appeals to NCLAT and the Supreme Court were also unsuccessful. The applicant argued that the rejection order should be recalled based on the subsequent judgment in 'Puneet Kaur vs. KV Developers'. The applicant claimed

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## Issues and analysis

### Issue 1: Whether the order dated 21.09.2021 passed in IA no. 3213/2021, which was upheld by Hon'ble NCLAT …

**Ratio:** The doctrine of prospective overruling, as observed in 'Union of India Vs. Madras

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**Reasoning:** The court reasoned that the applicant's earlier application was rejected, and the

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**Interpretation:** The interpretation focuses on the finality of judicial decisions and the

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**Application:** The court applied the ratio by stating that since the applicant's rights were

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## Parties

- **Judges:** Ramalingam…; AVINASH K.…
- **Appellants:** Sunil Handa…
- **Respondents:** Today Homes Noida…; Rabinder Kumar…

## Timeline

- **2018-01-01 — Possession o…**: 9 flats were handed…
- **2019-08-20 — CIRP Init…**: CIRP was initiated against Today…

## 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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