# In the matter of Sheltrex Karjat Private Limited

> NCLT judgment dated 2025-07-18. Citation: TCN-2025-NCLT-00785. The case involves an application (IA/942/2024) filed by Hitesh Hasmukhlal Damania and Nikita…

- **Court:** NCLT
- **Order date:** 18 Jul 2025
- **Citation:** TCN-2025-NCLT-00785
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/sheltrex-karjat-private-limited-419c3e81

## Summary

### Background

The case involves an application (IA/942/2024) filed by Hitesh Hasmukhlal Damania and Nikita Hitesh Damania seeking directions to the Resolution Professional (RP) to consider and admit their claim as Financial Creditors in the Corporate Insolvency Resolution Process (CIRP) of Sheltrex Karjat Private Limited.

## Facts

Hitesh Hasmukhlal Damania and Nikita Hitesh Damania filed a claim as Financial Creditors based on an allotment of a commercial unit in lieu of consultancy services provided to Sheltrex Karjat Private Limited.

The Board of Directors of Sheltrex Karjat Private Limited settled outstanding dues of Rs. 26,63,030/- to Hitesh H. Damania & Co. (Proprietorship Firm of Mr. Hitesh Hasmukhlal Damania) for income-tax consulting services, offering a commercial unit as full and final settlement.

A Memorandum of Understanding (MOU) was executed on 28th September, 2020, and an Agreement for Sale was executed on 27th January, 2023, for the commercial unit.

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## Issues and analysis

### Issue 1: Whether the applicant should be considered a …

**Ratio:** The applicant, having been allotted a commercial unit in lieu of services rendered and

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**Reasoning:** The amount due for services was settled by allotting a commercial unit, converting the

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**Interpretation:** The applicant's claim should be considered as a financial debt under Section

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**Application:** The decision of the Resolution Professional to treat the applicant as an

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** Hitesh Hasmukhlal…; Nikita Hitesh…; +1 more
- **Respondents:** Sheltrex Karjat…; Manish Lalj…
- **Other parties:** Suresh…; Arun Nandlal…
- **Advocates:** PCS Suraj…; Maulik Ch…

## Timeline

- **2019-01-23 — Board Me…**: Board of Directors of the Corporate Debtor offered and settled the adjustment of…
- **2019-01-31 — Allotment…**: Company allotted the Allotment Letter for allotment of Commercial Unit/ Shop “101” in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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