# In the matter of Wadhwa Buildcon LLP

> NCLT judgment dated 2025-09-04. Citation: TCN-2025-NCLT-01433. The case involves an application filed by the Interim Resolution Professional (IRP) of Wadhwa…

- **Court:** NCLT
- **Order date:** 4 Sept 2025
- **Citation:** TCN-2025-NCLT-01433
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/wadhwa-buildcon-llp-9243e5d4

## Summary

### Background

The case involves an application filed by the Interim Resolution Professional (IRP) of Wadhwa Buildcon LLP, seeking to declare certain payments made by the respondents as illegal and in contravention of Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016.

## Facts

CIRP was initiated against Wadhwa Buildcon LLP on 28.07.2020.

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

Manish Lalji Dawda was appointed as the new Resolution Professional (RP) on 02.07.2024.

The IRP filed an application claiming that payments made on 28.07.2020 and 30.07.2020 by Respondent No. 1 and Respondent No. 2 from the corporate debtor's account violated Section 14 of the IBC.

The payments in question were made to M/s. Jupiter Enterprises, M/s. Winsome Traders, and Mr. Shankar P. Malani, totaling Rs. 60,78,200/-.

The respondents argued that the payments were operational transactions made in the ordinary course of business and were not communicated to them until 02.08.2020.

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## Issues and analysis

### Issue 1: Whether the payments made by the Corporate Debtor on 28.07.2020 and 30.07.2020 are in violation of …

**Ratio:** The Adjudicating Authority relied on the judgment of the Hon'ble NCLAT in the matter of

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**Reasoning:** The Hon'ble NCLAT observed that the question of cost and its approval lies in the domain

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**Interpretation:** Once the subject transactions have been ratified as CIRP cost by the CoC, it is

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**Application:** In the case in hand there is no dispute to the fact that the expenses for the

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## Parties

- **Judges:** Mohan Prasad…; Charanjeet Singh…
- **Appellants:** Bank of…; Manish Lalj…
- **Respondents:** Wadhwa Buildcon…; Ankit W…; +1 more
- **Other parties:** Rakesh Kumar…
- **Advocates:** Maulik Ch…; Malhar Za…

## Timeline

- **2020-07-28 — CIRP Init…**: CIRP initiated against…
- **2020-07-28 — Payments…**: Payments made by Respondent No. 1 and Respondent No. 2 from the corporate debtor's…

## 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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