# Shailendra Kataria vs. Manish Lalji Dawda, RP of Wadhwa Buildcon LLP

> NCLT judgment dated 2026-09-11. Citation: TCN-2026-NCLT-01078. The Corporate Insolvency Resolution Process (CIRP) was initiated against Wadhwa Buildcon LLP.…

- **Court:** NCLT
- **Order date:** 11 Sept 2026
- **Citation:** TCN-2026-NCLT-01078
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/shailendra-kataria-vs-wadhwa-buildcon-llp-xgs2a

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Wadhwa Buildcon LLP. Mr. Rakesh Kumar Tulsyan was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP). A resolution plan approved by the Committee of Creditors (CoC) was subsequently set aside by the Tribunal. Following an application by Bank of India, Mr. Vishal Ghisulal Jain was replaced by Mr. Manish Lalji Dawda as the new RP. Mr. Shailendra Kataria, as the Authorised Representative of Homebuyers, filed an Interlocutory Application (IA) challenging the new RP's re-verification of claims, which resulted in a significant reduction of the Homebuyers' voting share in the CoC, alleging the re-verification was illegal

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## Facts

The Corporate Insolvency Resolution Process (CIRP) against Wadhwa Buildcon LLP commenced on 28.07.2020.

Mr. Rakesh Kumar Tulsyan was initially appointed as the Interim Resolution Professional (IRP).

Public announcement in Form A was issued on 30.07.2020, inviting claims from creditors.

In the 1st Committee of Creditors (CoC) meeting on 27.08.2020, Mr. Rakesh Kumar Tulsyan was replaced by Mr. Vishal Ghisulal Jain as the Resolution Professional (RP).

The Tribunal confirmed Mr. Vishal Ghisulal Jain's appointment as RP on 14.10.2020.

Mr. Vishal Ghisulal Jain filed an updated list of creditors on 16.01.2023, showing Homebuyers with 66.42% voting share and Bank of India with 33.58%.

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## Issues and analysis

### Issue 1: Whether the re-verification of claims of Homebuyers undertaken by the Resolution Professional is …

**Ratio:** A Resolution Professional (RP) has a statutory duty under Section 25(2)(e) of the IBC and

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**Reasoning:** The Tribunal noted that the Respondent RP, upon assuming charge, found several claims

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**Interpretation:** Section 25(2)(e) and Regulation 13(1) impose a continuous and active duty on

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**Application:** In the present case, the Respondent RP's re-verification was prompted by

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## Parties

- **Judges:** SH. VINAY…; SH. CHARANJEET…
- **Appellants:** Shailendra…
- **Respondents:** Wadhwa Buildcon…; Manish Lalj…
- **Other parties:** Committee of…; Bank of…; +5 more
- **Advocates:** Rohan Ag…; Yahya Bata…; +5 more

## Timeline

- **2020-07-28 — CIRP Commencement & IRP…**: The Corporate Insolvency Resolution Process (CIRP) against Wadhwa Buildcon LLP was…
- **2020-07-30 — Public Announcement for…**: A Public announcement in Form A was issued, inviting claims from the creditors of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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