# Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni & Anr. [Civil Appeal Nos.7590-7591 of 2023]

> SC judgment dated 2024-02-12. Citation: TCN-2024-SC-00098. The Greater Noida Industrial Development Authority (appellant) filed appeals against the judgment…

- **Court:** SC
- **Order date:** 12 Feb 2024
- **Citation:** TCN-2024-SC-00098
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/greater-noida-industrial-development-authority-vs-prabhjit-singh-soni-anr-5e79a5fd

## Summary

### Background

The Greater Noida Industrial Development Authority (appellant) filed appeals against the judgment and order of the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, which dismissed the appellant's appeal against the order of the National Company Law Tribunal (NCLT), New Delhi. The NCLT had dismissed two applications filed by the appellant under Section 60(5) of the Insolvency and Bankruptcy Code (IBC). The appellant, a statutory authority, had allotted a plot of land to M/s. JNC Construction (P) Ltd (corporate debtor) on lease for 90 years. The corporate debtor defaulted on payment of installments, leading to the initiation of Corporate Insolvency Resolution Process (CIRP). The appellant submitted a claim as a financial creditor, but the

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## Facts

The Greater Noida Industrial Development Authority (appellant), a statutory body, allotted a plot of land to M/s. JNC Construction (P) Ltd (corporate debtor) on a 90-year lease. The corporate debtor defaulted on installment payments, leading the appellant to serve a demand cum pre-cancellation notice. Subsequently, a Company Petition was filed against the corporate debtor, initiating the Corporate Insolvency Resolution Process (CIRP). The appellant submitted a claim of Rs. 43,40,31,951 as unpaid installments, asserting its status as a financial creditor. However, the Resolution Professional (RP) treated the appellant as an operational creditor and requested the claim in Form B. The appellant did not resubmit the claim. The Committee of Creditors (COC) approved a

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## Issues and analysis

### Issue 1: Whether in exercise of powers under sub-section (5) of Section 60, the Adjudicating Authority …

**Ratio:** The NCLT has inherent powers to recall its order to secure the ends of justice and/or to

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**Reasoning:** The court relied on several precedents, including Manohar Lal Chopra vs. Rai Bahadur Rao

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**Interpretation:** The power to recall an order is distinct from the power of review. Recall is

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**Application:** In this case, the appellant claimed that it was not informed of the COC

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## Parties

- **Judges:** Manoj M…; Dr Dhananjaya Y…; +1 more
- **Appellants:** Greater Noida…
- **Respondents:** JNC Construction…; Prabhjit Singh…
- **Other parties:** 7th Edition…; Secured operationa…; +9 more

## Timeline

- **2010-10-28 — Land Allo…**: Plot No. 01-C, Sector 16C, Greater Noida, was allotted to M/s. JNC Construction (P) Ltd…
- **2012-10-29 — Installment Payments…**: Premium installments payable by JNC Construction (P) Ltd started from 29.10.2012 up to…

## 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)

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