# In the matter of New Okhla Industrial Development Authority Vs Nilesh Sharma & Anr.

> SC judgment dated 2022-07-25. Citation: TCN-2022-SC-00036. The case involves a civil appeal filed by the New Okhla Industrial Development Authority against…

- **Court:** SC
- **Order date:** 25 Jul 2022
- **Citation:** TCN-2022-SC-00036
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/new-okhla-industrial-development-authority-vs-nilesh-sharma-anr-e76f8a05

## Summary

### Background

The case involves a civil appeal filed by the New Okhla Industrial Development Authority against Nilesh Sharma & Anr. The appeal was called for hearing on 25-07-2022. The court is considering the matter and has directed the Resolution Professional to revisit the Resolution Plan and furnish a revised proposal to the appellant by 12.08.2022. A joint meeting is to be held with senior officers of the New Okhla Industrial Development Authority (NOIDA), Resolution Professionals, and the resolution applicant to find an amicable solution within the ambit of the IBC, if possible, within two weeks.

## Facts

The New Okhla Industrial Development Authority filed a civil appeal against Nilesh Sharma & Anr. The court has directed the Resolution Professional to revisit the Resolution Plan and furnish a revised proposal to the appellant by 12.08.2022. A joint meeting is to be held with senior officers of the New Okhla Industrial Development Authority (NOIDA), Resolution Professionals, and the resolution applicant to find an amicable solution within the ambit of the IBC, if possible, within two weeks. The Lessee (M/s. Logix City Developers Pvt. Ltd.) was made a party respondent. Notice was issued to respondent no.2 and the added respondent, returnable on 29.08.2022. The proceedings against the appellant are stayed in the meantime.

## Issues and analysis

### Issue 1: Whether the Resolution Professional should revisit the Resolution Plan and furnish a revised …

**Ratio:** The court has the power to direct parties to explore amicable solutions and to ensure

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**Reasoning:** The court believes that revisiting the Resolution Plan and furnishing a revised proposal

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**Interpretation:** This demonstrates the court's proactive role in facilitating settlements and

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**Application:** The Resolution Professional is directed to revisit the plan and furnish a

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## Parties

- **Judges:** Ajay Ra…; C.T. RAVI…
- **Appellants:** New Okhla…
- **Respondents:** Logix City…; Nilesh S…
- **Other parties:** Affir…
- **Advocates:** Balbir…; Anil Ka…; +4 more

## Timeline

- **2022-07-25 — Appeal Called for…**: The civil appeal was…
- **2022-08-12 — Revised Proposal…**: The Resolution Professional is directed to furnish a revised proposal to the appellant by…

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