# Amarendera Financial Pvt. Ltd. & Anr. vs. Cynosure Real Estates Pvt. Ltd.

> NCLT judgment dated 2026-07-16. Citation: TCN-2026-NCLT-00763. The applications were filed for the recall of an order dated 19.04.2022, which had dismissed an…

- **Court:** NCLT
- **Order date:** 16 Jul 2026
- **Citation:** TCN-2026-NCLT-00763
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/amarendera-financial-pvt-ltd-anr-vs-cynosure-real-estates-pvt-ltd-fpikm

## Summary

### Background

The applications were filed for the recall of an order dated 19.04.2022, which had dismissed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. The applicant alleged that the respondent had played fraud upon the Court by not producing income tax returns for the assessment year 2018-19 and balance sheets for the Financial Years 2016-17 and 2017-18, which would have established an acknowledgment of financial debt. The applicant contended that the respondent had acknowledged debt in unaudited books of accounts.

## Facts

An application was preferred for recall of the order dated 19.04.2022.

The order dated 19.04.2022 had dismissed an application preferred under Section 7 of the Insolvency & Bankruptcy Code, 2016.

The applicant alleged fraud by the respondent for not producing income tax returns for the assessment year 2018-19.

The applicant alleged the respondent did not file balance sheets subsequent to FY 2016-17 and 2017-18 with the Registrar of Companies (ROC).

The applicant claimed the respondent acknowledged debt in unaudited books of accounts for FY 2017-18.

The applicant had not filed any loan agreement in the original application.

…

## Issues and analysis

### Issue 1: Whether the NCLT has inherent power to recall its order, and if so, under what circumstances should …

**Ratio:** The NCLT possesses inherent power to recall its judgments under Rule 11 of the NCLT

…

**Reasoning:** The Court referred to judgments like *Greater Noida Industrial Development Authority v.

…

**Interpretation:** Rule 11 of NCLT Rules, 2016, preserves the inherent power of the Tribunal. This

…

**Application:** The applicant sought recall alleging fraud. The Court needed to determine if

…

## Parties

- **Judges:** ANUPINDER SINGH…; Anu Jagmoha…
- **Appellants:** Amarendera…; Dinkar Commercial…
- **Respondents:** Cynosure Real…
- **Advocates:** Ravi Pr…; Bhumika Bh…

## Timeline

- **2015-07-01 — RBI Master Circular…**: Reserve Bank of India's Master Circular for Fair Practices Code for Non-Banking Financial…
- **2017-04-05 — First Fund T…**: Rs. 1,50,00,000 (in two transactions of Rs. 75,00,000 each) withdrawn from 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-new-delhi/amarendera-financial-pvt-ltd-anr-vs-cynosure-real-estates-pvt-ltd-fpikm