# Sincere Securities Private Limited & Ors. vs. Chandrakant Khemka & Ors.

> SC judgment dated 2025-08-05. Citation: TCN-2025-SC-00081. The case involves an appeal against the order of the National Company Law Appellate Tribunal…

- **Court:** SC
- **Order date:** 5 Aug 2025
- **Citation:** TCN-2025-SC-00081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/sincere-securities-private-limited-ors-vs-chandrakant-khemka-ors-a25c061a

## Summary

### Background

The case involves an appeal against the order of the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, which had allowed an appeal filed by Chandrakant Khemka and set aside the order of the National Company Law Tribunal (NCLT), Kolkata Bench. The NCLT had directed the delivery of possession of a property to the appellants.

## Facts

On 13.02.2019, Nandini Impex Private Limited executed a Memorandum of Understanding with Noble Dealcom Private Limited and Jodhpur Properties and Finance Private Limited, availing financial assistance of ₹3 crores secured by the rear portion of the ground floor of White House.

On 15.02.2019, Nandini Impex Private Limited executed another Memorandum of Understanding with Sincere Securities Private Limited for a loan of ₹3 crores, secured by the front portion of the ground floor of White House.

On 27.02.2020, separate conveyance deeds were executed transferring the title of the front and rear portions of the ground floor of White House to the appellants due to Nandini Impex Private Limited's failure to repay the loans.

…

## Issues and analysis

### Issue 1: Whether Section 14(1)(d) of the IBC bars the return of the subject property to the appellants …

**Ratio:** Section 14(1)(d) of the IBC states that once the adjudicating authority declares a

…

**Reasoning:** The Court considered that the CoC and the Resolution Professional were in favor of

…

**Interpretation:** The Court interpreted that Section 14(1)(d) should not be applied in a manner

…

**Application:** The Court held that the return of the property was not a simple case of the

…

## Parties

- **Judges:** Sanjay…; SATISH CHANDRA…
- **Appellants:** Sincere Securities…; Noble Dealcom…; +1 more
- **Respondents:** Nandini Impex…; Chandrakant…; +1 more
- **Other parties:** Over Tu…; Chandrakant…; +3 more

## Timeline

- **2019-02-13 — MOU Exec…**: Nandini Impex Private Limited executed a Memorandum of Understanding with Noble Dealcom…
- **2019-02-15 — MOU Exec…**: Nandini Impex Private Limited executed a Memorandum of Understanding with Sincere…

## 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/sincere-securities-private-limited-ors-vs-chandrakant-khemka-ors-a25c061a