NCLAT Orders Refund for Settled Bank Loan in Corporate Insolvency Case

Gaurav Jindal Vs Debashish Nanda (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), Delhi, has partly allowed an appeal filed by Gaurav Jindal, challenging an order dated June 10, 2024, passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi. The Adjudicating Authority had rejected IA No. 2413 of 2024 filed by the Appellant, seeking to be treated as a homebuyer in the Corporate Insolvency Resolution Process (CIRP) of the corporate debtor. The brief facts of the case reveal that the Appellant was allotted Flat No. C-103 on June 4, 2015, against a payment of â...