# In the matter of Pankaj Majithia v. Honest Shelters Pvt. Ltd. and Ors.

> SC judgment dated 2023-12-06. Citation: TCN-2023-SC-00003. The case arises from a civil appeal against an order of the High Court. A key aspect involves a…

- **Court:** SC
- **Order date:** 6 Dec 2023
- **Citation:** TCN-2023-SC-00003
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/pankaj-majithia-v-honest-shelters-pvt-ltd-and-ors-6edd4f92

## Summary

### Background

The case arises from a civil appeal against an order of the High Court. A key aspect involves a sale certificate issued on 2019-06-26 under the SARFAESI Act concerning immovable property, specifically 142 apartments in the Sky and Manor, excluding Worli Estate. The Real Estate Regulatory Authority (RERA) issued orders on 2023-03-20 and 2023-07-19, requiring the completion of the project and handover of possession to flat owners. The obligations of the flat buyers are governed by their agreements. The NCLT's involvement is perceived as potentially revisiting issues already addressed by RERA.

## Facts

A sale certificate was issued on 2019-06-26 under the SARFAESI Act for immovable property including 142 apartments in Sky and Manor, excluding Worli Estate. RERA issued orders on 2023-03-20 and 2023-07-19, mandating project completion and handover to flat owners. The NCLT process commenced on 2019-11-06 under the Insolvency and Bankruptcy Code, 2016. The High Court's order was challenged, leading to the Supreme Court appeal. The key facts are the issuance of the sale certificate, the RERA orders, the NCLT proceedings, and the potential conflict between these actions. The relevance of these facts lies in determining the jurisdiction and authority of different regulatory bodies and the protection of the rights of flat buyers.

## Issues and analysis

### Issue 1: Whether the NCLT's intervention affects the rights of the respondent and flat buyers given the sale …

**Ratio:** The principle is that proceedings under the Insolvency and Bankruptcy Code should not

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**Reasoning:** The court reasoned that the NCLT process commenced after the sale certificate was issued

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**Interpretation:** This issue involves interpreting the interplay between the SARFAESI Act, RERA,

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**Application:** The court applied this reasoning to the specific facts by clarifying that the

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## Parties

- **Judges:** SANJAY KISH…; Sudhanshu…
- **Appellants:** PANKAJ MA…
- **Respondents:** HONEST SHELTERS…

## Timeline

- **2019-06-26 — Sale Certifica…**: A sale certificate was issued under the…
- **2019-11-06 — NCLT Process C…**: The NCLT process commenced under the…

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