# Vivek Khanna & Ors. vs. Mr. Gaurav Katiyar, Interim Resolution Professional, Spaze Towers Pvt. Ltd.

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01170. The Corporate Insolvency Resolution Process (CIRP) for Spaze Towers Private Limited was…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01170
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/spaze-towers-pvt-ltd-r83md

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) for Spaze Towers Private Limited was initiated on 21.10.2024. The applicants, 20 homebuyers/allottees of the "Spaze Arrow" project, filed an application seeking to exclude alleged "Proxy Claimants" from the Committee of Creditors (CoC), obtain account statements from the Resolution Professional (RP) regarding unit holders' payments, and set aside certain CoC voting decisions. They alleged that suspended directors influenced the CIRP, that "Proxy Claimants" were not genuine allottees but speculative investors or benamidars, and that there were discrepancies in payments, siphoning of funds, and unavailability of Tally data.

## Facts

The CIRP of Spaze Towers Private Limited ("Corporate Debtor") was admitted by order dated 21.10.2024 under Section 7 of the IBC on an application filed by allottees of the "Spaze Arrow" project.

The present application seeks reconstitution of the CoC to include only genuine unit holders, exclusion of persons whose claims allegedly do not qualify as allottee claims, exclusion of alleged proxies of the suspended management, and exclusion of unverifiable claims based on photocopies of agreements in the absence of Tally data.

It is alleged that the suspended directors resorted to unlawful means to retain influence over the CIRP and secure the appointment of a Resolution Professional of their choice.

…

## Issues and analysis

### Issue 1: Whether the alleged "Proxy Claimants" are liable to be excluded from the Committee of …

**Ratio:** Mere allegations that a claimant is a proxy, benamidar, or connected with the suspended

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**Reasoning:** The CoC was constituted based on claims verified by the erstwhile RP in accordance with

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**Interpretation:** The role of the Resolution Professional in claim verification is limited to

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**Application:** The applicants' request for exclusion of "Proxy Claimants" is denied

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** Vivek K…; RAJEEV CHA…; +18 more
- **Respondents:** Spaze Towers Pvt.…; Gaurav Ka…
- **Other parties:** Jaspreet…; Pramod Kuma…; +9 more
- **Advocates:** Eshna K…; Astha Ag…; +5 more

## Timeline

- **2011-2012 — Period for Bank…**: Recovery and examination of bank statements dating back to this period stated to be…
- **2023-08-14 — DTCP Financial Audit…**: Reliance is placed on the DTCP financial audit filed on this date, according to which the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 21 — Committee of creditors](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-21)

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