# SHRAVAN BHATIA HUF vs. MR. NARENDRA KUMAR SHARMA, RESOLUTION PROFESSIONAL, SPAZE TOWERS PVT. LTD.

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01124. The Applicant, SHRAVAN BHATIA HUF, filed an application (I.A. 6209 ND 2025) under Section 60(5)…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01124
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/spaze-towers-pvt-ltd-g546m

## Summary

### Background

The Applicant, SHRAVAN BHATIA HUF, filed an application (I.A. 6209 ND 2025) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The application sought to record objections to a resolution plan for Spaze Towers Private Limited, reject the said plan, and direct the Resolution Professional to invite fresh bids that comply with the IBC, 2016 and associated regulations.

## Facts

The Applicant, SHRAVAN BHATIA HUF, filed I.A. 6209 ND 2025 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of the NCLT Rules, 2016.

The application sought to take on record the objections filed by the Applicant to the Resolution Plan for Spaze Towers Private Limited.

The application requested an order rejecting the Resolution Plan for Spaze Towers Private Limited.

The application sought a direction for the Resolution Professional to invite fresh bids for a Resolution Plan satisfying IBC parameters.

A Resolution Plan for Spaze Towers Private Limited was resolved to be put up for approval before the Committee of Creditors in their 14th Meeting held on 17.11.2025 & 18.11.2025.

…

## Issues and analysis

### Issue 1: Whether the objections filed by the Applicant to the Resolution Plan for Spaze Towers Private …

**Ratio:** The Adjudicating Authority found no reason to take a different view from its previous

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**Reasoning:** The present application sought reliefs that were identical or similar to those already

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**Interpretation:** The principle of judicial consistency dictates that once a matter or similar

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**Application:** Since the previous application seeking similar reliefs was dismissed, the

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** SHRAVAN BHA…
- **Respondents:** Spaze Towers Pvt.…; NARENDRA KUMAR…
- **Other parties:** Committee of…; Vivek Khanna &…; +1 more
- **Advocates:** Aravind Subramania…; Upamanyu…; +5 more

## Timeline

- **2025-11-17 — 14th Meeting of…**: A Resolution Plan for Spaze Towers Private Limited was resolved to be put up for approval…
- **2025-11-18 — 14th Meeting of Committee of Creditors…**: A Resolution Plan for Spaze Towers Private Limited was resolved to be put up for approval…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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