# In the matter of Samson and Sons Builders and Developers Pvt. Ltd.

> NCLT judgment dated 2025-11-12. Citation: TCN-2025-NCLT-01743. The Applicants, Nova Castle Apartment Owner's Association and Sanctuary Apartment Owner's…

- **Court:** NCLT
- **Order date:** 12 Nov 2025
- **Citation:** TCN-2025-NCLT-01743
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/samson-and-sons-builders-and-developers-pvt-ltd-5e25d056

## Summary

### Background

The Applicants, Nova Castle Apartment Owner's Association and Sanctuary Apartment Owner's Association, filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging the reconstitution of the Committee of Creditors (CoC) by the Resolution Professional (RP). They argued that the RP unilaterally reconstituted the CoC by excluding associations of homebuyers after the approval of project-wise resolution plans, which they claim is illegal and violates the principles of natural justice.

## Facts

Nova Castle Apartment Owner's Association and Sanctuary Apartment Owner's Association filed an application challenging the reconstitution of the Committee of Creditors (CoC).

The Resolution Professional (RP) unilaterally reconstituted the CoC by excluding associations of homebuyers after the approval of project-wise resolution plans.

Applicants argued that the RP's action was illegal, violating the principles of natural justice and the Insolvency and Bankruptcy Code, 2016.

The Respondents argued that the RP reconstituted the CoC in accordance with the law, following the approval of project-wise resolution plans.

The Applicants were present when the CoC decided on its reconstitution but did not raise objections during the meeting.

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## Issues and analysis

### Issue 1: Whether the Resolution Professional (RP) acted within his authority in reconstituting the Committee …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, emphasizes the commercial wisdom of the

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**Reasoning:** The Tribunal reasoned that the RP's actions were justified because, upon approval of the

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**Interpretation:** The Tribunal interpreted the provisions of the IBC, 2016, to prioritize the

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**Application:** The Tribunal applied the principles of creditor-driven insolvency resolution

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## Parties

- **Judges:** Vinay…; Madhu S…
- **Appellants:** Nova Castle…; Sanctuary…
- **Respondents:** Samson and Sons…; K. Parameshwaran…
- **Other parties:** Kerala Financial…; State Bank of…; +5 more
- **Advocates:** Bijoy Pu…; Vinod…

## Timeline

- **2021-11-03 — Admission in…**: Corporate Debtor admitted into CIRP by…
- **2022-06-09 — EOI Issu…**: Initially, an EOI for a holistic…

## 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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