# AMIT NEHRA & ANR. vs. PAWAN KUMAR GARG & ORS.

> SC judgment dated 2025-09-09. Citation: TCN-2025-SC-00122. The Appellants, bona fide homebuyers, booked an apartment in 2010 with M/s Puma Realtors Private…

- **Court:** SC
- **Order date:** 9 Sept 2025
- **Citation:** TCN-2025-SC-00122
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/amit-nehra-anr-vs-pawan-kumar-garg-ors-3ldcg

## Summary

### Background

The Appellants, bona fide homebuyers, booked an apartment in 2010 with M/s Puma Realtors Private Limited (Corporate Debtor) and paid nearly the entire consideration. The Corporate Debtor failed to deliver possession by 2013. During the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor, the Appellants submitted their claim, which was eventually verified and admitted by the Resolution Professional and included in the list of financial creditors. However, the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT), applying Clause 18.4(xi) of the approved Resolution Plan, treated their claim as belated and entitled them only to a 50% refund, denying possession.

## Facts

This Civil Appeal is filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the judgment and final order dated 10.01.2025 passed by the National Company Law Appellate Tribunal (NCLAT).

The NCLAT affirmed the decision of the National Company Law Tribunal (NCLT) rejecting the Appellants' claim for possession of their residential apartment.

The apartment is in the real estate project of M/s Puma Realtors Private Limited (the Corporate Debtor), an IREO Group company.

The Corporate Debtor undertook development of integrated residential townships, including the IREO Rise (Gardenia) project in Sector 99, SAS Nagar, Mohali.

…

## Issues and analysis

### Issue 1: Whether the Appellants, as bona fide homebuyers whose claim was duly verified and incorporated in …

**Ratio:** A claim that has been duly verified by the Resolution Professional and incorporated in

…

**Reasoning:** The Appellants' claim was resubmitted on 07.02.2020, verified by the Resolution

…

**Interpretation:** The Supreme Court interpreted the Resolution Plan's clauses, particularly

…

**Application:** The Court applied this interpretation to the Appellants' case, finding that

…

## Parties

- **Judges:** SATISH CHANDRA…; SANJAY KU…
- **Appellants:** AMIT N…
- **Respondents:** M/s Puma Realtors…; PAWAN KUMA…
- **Other parties:** Committee of…

## Timeline

- **2010 — Apartment B…**: Appellants booked an apartment in…
- **2011-05-27 — Apartment Buyer's…**: Appellants executed an Apartment Buyer's Agreement with the Corporate Debtor for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 62 — Appeal to Supreme Court](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-62)

---

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/supreme-court-of-india/amit-nehra-anr-vs-pawan-kumar-garg-ors-3ldcg