# In the matter of New Okhla Industrial Development Authority vs. Sunil Kumar Agrawal

> SC judgment dated 2023-02-17. Citation: TCN-2023-SC-00095. The case involves an appeal against a judgment, with applications for exemption from filing a…

- **Court:** SC
- **Order date:** 17 Feb 2023
- **Citation:** TCN-2023-SC-00095
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/new-okhla-industrial-development-authority-vs-sunil-kumar-agrawal-545c9f47

## Summary

### Background

The case involves an appeal against a judgment, with applications for exemption from filing a certified copy of the impugned judgment and for a stay order. The matter was called for hearing on February 17, 2023. The appellant relies on Regulation 31 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2018, arguing that current dues must be accounted for in the resolution plan. The court issued a notice, returnable in September 2023, and clarified that the operation of the order dated January 12, 2023, passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi in Company Appeal (AT) (Insolvency) No. 622/2022, has not been stayed.

## Facts

New Okhla Industrial Development Authority filed an appeal against Sunil Kumar Agrawal. The appeal involves applications for exemption from filing a certified copy of the impugned judgment and for a stay order. The appellant argues that current dues must be accounted for in the resolution plan, citing Regulation 31 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2018. The National Company Law Appellate Tribunal (NCLAT) had previously passed an order on January 12, 2023, in Company Appeal (AT) (Insolvency) No. 622/2022. The court clarified that the operation of the NCLAT order has not been stayed. The relevance of the facts lies in determining whether the current dues should be included in the resolution

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## Issues and analysis

### Issue 1: Whether the current dues should be accounted for in the resolution plan as per Regulation 31 of the …

**Ratio:** Regulation 31 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution

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**Reasoning:** The appellant argues that current dues must be accounted for in the resolution plan. The

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**Interpretation:** Regulation 31 is interpreted to determine whether it mandates the inclusion of

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**Application:** The ratio is applied to the facts of the case to determine whether the current

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## Parties

- **Judges:** SANJIV K…; M.M. SUN…
- **Appellants:** New Okhla…
- **Respondents:** Sunil Kumar…
- **Advocates:** Sanjiv…; Rachit M…; +4 more

## Timeline

- **2023-01-12 — NCLAT Or…**: Order passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi…
- **2023-02-17 — Hearing…**: The matter was called…

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