Ramprasad Vishvanath Gupta Vs Dinesh Kumar Deora (NCLAT Delhi)
NCLAT Delhi held that statutory provisions of section 43 of the Insolvency and Bankruptcy Code [IBC] empowers resolution professional to file application for avoidance of preferential transactions. Hence, application filed by homebuyers rightly not entertained.
Facts- On an application filed by one Santosh Ananda Shetty and 66 other homebuyers as Financial Creditors in class, CIRP against the Corporate Debtor – Snehanjali and S.B. Developers Private Limited commenced by order dated 07.03.2024. Resolution Professional filed an application for approval of Resolution Plan.
An application was filed by the Appellant – Ramprasad Vishvanath Gupta raising objection to the Resolution Plan of La Mer Developers Limited and Neel Builders & Developers. Another application was filed by the Appellant u/s. 43 seeking declaration of certain transaction undertaken by the Corporate Debtor as preferential transaction. By order dated 24.01.2025, an application filed by the Appellant u/s. 43 of the I&B Code has been rejected and by order dated 28.01.2025, an application field by the Appellant objecting to the Resolution Plan has been rejected. By subsequent order dated 12.02.2025, the Adjudicating Authority allowed IA (IBC) (Plan) No.102/MB/2024. Appellant aggrieved of the aforesaid three orders has filed these appeals.
