# In the matter of Ansal Lotus Melange Private Limited IA-1531-2023 in IB-85-ND-2021

> NCLT judgment dated 2023-06-16. Citation: TCN-2023-NCLT-05438. The applicant, GK Crystal Homes, purchased two commercial units from the corporate debtor, M/s.…

- **Court:** NCLT
- **Order date:** 16 Jun 2023
- **Citation:** TCN-2023-NCLT-05438
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ansal-lotus-melange-private-limited-ia-1531-2023-in-ib-85-nd-2021-94d2561e

## Summary

### Background

The applicant, GK Crystal Homes, purchased two commercial units from the corporate debtor, M/s. Ansal Lotus Melange Private Limited, paying Rs. 1,25,00,000/- towards the units. The applicant was offered possession but claims the project was incomplete and lacked a completion certificate.

## Facts

GK Crystal Homes purchased two commercial units (CB-05 and CB-06) from M/s. Ansal Lotus Melange Private Limited.

The applicant paid Rs. 1,25,00,000/- towards the commercial units.

The applicant claims they were offered possession but the project was incomplete and lacked a completion certificate.

The applicant filed a civil suit seeking a refund of the amount.

CIRP was initiated against the Corporate Debtor on 17.04.2021, and Mr. Devendra Umrao was appointed as the Interim Resolution Professional.

The Resolution Professional found that the applicant had been offered possession and was not treated at par with home buyers.

The Resolution Professional found that the applicant had already received Rs. 1,250,000/- and Rs. 4,26,203/- towards each unit from the corporate debtor.

…

## Issues and analysis

### Issue 1: Whether the applicant, GK Crystal Homes, should be considered a financial creditor and have their …

**Ratio:** The Resolution Professional determined that since the applicant was offered possession of

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**Reasoning:** The applicant was offered possession of the units, and the Resolution Professional found

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**Interpretation:** The Resolution Professional interpreted the situation based on the allotment

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**Application:** The Resolution Professional applied the principles of creditor classification

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** GK Crystal…; ASHWANI KUMAR…
- **Respondents:** M/s. Ansal Lotus…; Devendra Umrao,…
- **Other parties:** DEVENDRA…
- **Advocates:** Harish Gu…

## Timeline

- **17.04.2021 — CIRP Init…**: Order passed by the Tribunal initiating…
- **26.05.2021 — Claim Subm…**: The Applicant filed its claim in Form-CA…

## 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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