# Ritu Gakhar & Ors. vs. OM Krishna Developers Pvt. Ltd.

> NCLT judgment dated 22 Apr 2026. Citation: TCN-2026-NCLT-00399. This is a Company Application filed under Section 7 of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 22 Apr 2026
- **Citation:** TCN-2026-NCLT-00399
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/ritu-gakhar-ors-vs-om-krishna-developers-pvt-ltd-53fm0

## Summary

### Background

This is a Company Application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by Mrs. Ritu Gakhar & Ors. (hereinafter referred to as ‘Financial Creditor'), seeking to initiate Corporate Insolvency Resolution Process (“CIRP”) against M/s. Om Krishna Developers Private Limited (“Corporate Debtor”).

## Facts

Mrs. Ritu Gakhar & Ors. filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016.

The application was filed on 26.12.2024.

The Corporate Debtor has defaulted to make a payment of Rs. 7,13,11,152/- along with interest @ 12% pa till date of payment.

The present petition is filed by Ms. Ritu Gakhar being the Authorized Representative on behalf of all the other petitioners who are the Allottees / Homebuyers of the plots in the residential real estate project titled “County Garden.

The petitioners, comprising 88 real estate allottees holding a total of 104 units in the same project by Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the present application satisfies the statutory requirement under the second proviso to …

**Ratio:** The application must be filed jointly by not less than one hundred of such creditors in

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**Reasoning:** The Hon'ble Supreme Court of India, in the matter of Manish Kumar v. Union of India (vide

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**Interpretation:** The term 'financial creditor' includes

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**Application:** The Financial Creditors have filed the present application through an

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## Parties

- **Judges:** JYOTSNA S…; ANU JAGMOHA…
- **Appellants:** Ritu Ga…
- **Respondents:** OM Krishna…
- **Other parties:** Insolvency and…; Corporate…; +4 more

## Timeline

- **2024-12-26 — Application…**: The present application…
- **2025-03-12 — Notice I…**: Vide order dated 12.03.2025 notice…

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