National Company Law Appellate Tribunal
Harpreet Singh Batra vs Gaurav Katiyar & Ors on 1 February, 2024
Author: Ashok Bhushan
Bench: Ashok Bhushan
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
PRINCIPAL BENCH, NEW DELHI
I.A. No. 653 of 2024
in
Company Appeal (AT) (Insolvency) No. 1192 of 2023
IN THE MATTER OF:
Harpreet Singh Batra Suspended Director of Imperia ...Appellant(s)
Structures Ltd.
Versus
Gaurav Katiyar Interim Resolution Professional & ...Respondent(s)
Ors.
Present:
For Appellant : Mr. Abhijeet Sinha, Sr. Advocate with Mr. Satendra K.
Rai, Ms. Saloni Sharma, Mr. Saikat Sarkar, Advocates
For Respondents : Mr. Piyush Singh, Mr. Vivek Kumar, Advocates for R-2
to R-21
Mr. Rajiv Shanker Dvivedi, Advocate for Intervener
ORDER
(Hybrid Mode) 01.02.2024: This Company Appeal has been filed against the Order passed by the Adjudicating Authority dated 31st August, 2023 by which Section 7 Application filed by the Financial Creditors herein Respondents has been admitted.
2. I.A. No. 653 of 2023 has been filed by the Appellant bringing on record settlements dated 12th January, 2024 executed between the Appellant and Financial Creditors.
3. Learned Counsel appearing for Financial Creditors also submits that agreement has been entered and certain part-payments has also been made, the first instalment has been paid.
2
4. We take the settlement on record and CIRP initiated by order dated 31st August, 2023 is closed.
5. Learned Counsel appearing for intervener who claims to file an application on behalf of 112 Home-Buyers seeks liberty to intervene.
6. CIRP having been closed, it is open for the Intervener to take their proceedings in accordance with law. Learned Counsel for the Appellant submits that expense and fee of the IRP has also been paid.
7. With these observations, we dispose of the Appeal.
[Justice Ashok Bhushan] Chairperson [Barun Mitra] Member (Technical) [Arun Baroka] Member (Technical) Basant/nn I.A. No. 653 of 2024 in Company Appeal (AT) (Insolvency) No.1192/2023