# Smt. Annu Anand vs. WTC Noida Development Company Pvt. Ltd.

> NCLT judgment dated 2026-04-23. Citation: TCN-2026-NCLT-00542. Smt. Annu Anand, along with 144 other allottees (Financial Creditors), filed an application…

- **Court:** NCLT
- **Order date:** 23 Apr 2026
- **Citation:** TCN-2026-NCLT-00542
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/smt-annu-anand-vs-wtc-noida-development-company-pvt-ltd-31h5w

## Summary

### Background

Smt. Annu Anand, along with 144 other allottees (Financial Creditors), filed an application under Section 7 of the IBC, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against WTC Noida Development Company Pvt. Ltd. (Corporate Debtor) due to default in handing over possession of commercial units. An intervenor, DYS Royals Pvt. Ltd., sought to be impleaded, offering to invest Rs. 200 crores in the Corporate Debtor. The Corporate Debtor argued that the applicants were speculative investors and that other CIRP applications were pending before different benches, requesting transfer or clubbing of cases.

## Facts

Smt. Annu Anand and 144 other allottees filed an application under Section 7 of IBC, 2016, against WTC Noida Development Company Pvt. Ltd.

WTC Noida Development Company Pvt. Ltd. (Corporate Debtor) was incorporated on 19.12.2007 and is involved in real estate development.

The applicants booked commercial units in a project allotted by the Corporate Debtor between 2017-2021.

Possession of the allotted units was to be handed over by 31.12.2024, a date also fixed by RERA for project completion.

The Corporate Debtor failed to offer possession or refund the amount with 9% p.a. interest as per the Builder Buyer Agreement.

The total debt repayable to the financial creditors (applicants) is Rs. 39,05,44,675.64.

…

## Issues and analysis

### Issue 1: Whether an intervention application by a third party offering to invest in the Corporate Debtor is …

**Ratio:** Intervention by any person other than the Corporate Debtor is generally not permissible

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**Reasoning:** The object of the IBC is to revive the Corporate Debtor, and proceedings are not intended

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**Interpretation:** The Adjudicating Authority's role at the Section 7 admission stage is limited

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**Application:** The intervention application by DYS Royals Pvt. Ltd. was found misconceived and

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## Parties

- **Judges:** SH. ASHOK KUMAR…; SH. ATUL CHATURVED…
- **Appellants:** Annu A…; DYS Royals Pvt.…
- **Respondents:** WTC Noida…
- **Other parties:** 145 Allottees…; Abhimanyu…
- **Advocates:** Aditya W…; Abhyankar…; +3 more

## Timeline

- **19.12.2007 — Corporate Debtor…**: WTC Noida Development Company…
- **2013-2024 — Builder Buyer A…**: Builder Buyer Agreements were executed with Financial Creditors (allottees) during these…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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