# In the matter of Sahiti Infratech Ventures India Pvt. Ltd.

> NCLT judgment dated 2025-04-25. Citation: TCN-2025-NCLT-00996. The application was filed by 127 applicants, who are allottees in a project to be developed by…

- **Court:** NCLT
- **Order date:** 25 Apr 2025
- **Citation:** TCN-2025-NCLT-00996
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/sahiti-infratech-ventures-india-pvt-ltd-cae941a7

## Summary

### Background

The application was filed by 127 applicants, who are allottees in a project to be developed by the Corporate Debtor (CD). The applicants had paid substantial amounts towards the purchase of flats in that project. The CD failed to deliver the promised flats against the money paid.

## Facts

The Corporate Debtor (CD) entered into Memoranda of Understanding (MoUs) with various home buyers, including the Applicants, for the construction of a high-rise residential complex named Sahiti Sarvani Elite at Ameerpet, Hyderabad, between 2019 and 2021.

The applicant home buyers, totaling 127, paid amounts ranging from Rs 22,30,000 to Rs 77,43,150 towards the allotment of flats.

The CD was expected to obtain the requisite permissions for construction by 31.12.2021, but failed to do so.

The total amount claimed by the joint applicants is Rs 46,68,31,257, along with interest of Rs 22,54,32,739, totaling Rs 69,22,63,996.

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## Issues and analysis

### Issue 1: Whether the application of the ratio laid down in the Vidarbha judgment—pertaining to the exercise …

**Ratio:** The Adjudicating Authority is expected to exercise judicial discretion while admitting an

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**Reasoning:** The facts of the case establish that substantial amounts were raised from the

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**Interpretation:** The application of the Vidarbha judgment

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**Application:** The Adjudicating Authority admitted the application and ordered the

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Ghatiki A…; Rimmanapudi…; +136 more
- **Respondents:** Sahiti Infratech…
- **Other parties:** Kamalesh Kumar…
- **Advocates:** Ms Prabha…; Mr J Ab…

## Timeline

- **2021-02-11 — Letter of Und…**: Letter of Undertaking issued on behalf of the CD, expecting the CD to obtain the…
- **2021-12-31 — Deadline for Pe…**: The CD was expected to obtain the requisite permissions for construction by this date,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 5(8) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-5)

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