Green Space Infraheights Private ... vs Meenakshi
- CitationCompany Appeal (AT) (Insolvency) No. 1950 of 2025
Ratio decidendi
The rule this decision rests on
The Adjudicating Authority is right to reject an application under Section 65 of the Insolvency and Bankruptcy Code, 2016 where the applicant has neither shown a case for invoking that provision nor demonstrated any fraudulent intent on the part of the initiator of the proceedings. Submissions that the corporate debtor can raise by offering the decretal amount or possession to allottees, without more, do not displace that conclusion at the stage of an appeal against rejection of a Section 65 application; such submissions are to be raised by the corporate debtor when the underlying application is heard on merits.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Green Space Infraheights Pvt. Ltd. ...Appellant
Versus
Meenakshi & Ors. ...Respondents
Present: For Appellant : Mr. Abhishek Anand, Mr. Rajat Juneja, Ms. Sakshi Kapoor, Ms. Tina Aneja, Advocates. For Respondent : Mr. Vishal Hirawat, Advocate.
ORDER
(Hybrid Mode)
11.12.2025: This appeal has been filed against order dated 27.11.2025
by which I.A. No.5781 of 2025 filed by the Appellant for dismissing the petition
filed by the Financial Creditor has been rejected.
2. Learned counsel for the Appellant submits that he has offered full
decretal amount to the 12 applicants, which was not accepted. With regard
to other allottees he has also offered possession. He submits that substantial
number of allottees are also agreeable to offer given by the Corporate Debtor.
The Adjudicating Authority has held that the applicant has neither made out
any case nor shown any fraudulent intent so as to invoke Section 65 of the
IBC, 2016.
3. From the facts as are on the record and as submission made by the
Appellant, we are of the view that the Adjudicating Authority has rightly
rejected the application under Section 65 filed by the Corporate Debtor. We,
Cont'd.../ however, observe that the submissions which are sought to be raised by the
Appellant can be raised by the Corporate Debtor at the time when the
application is heard on merits. With these observations, we dismiss the
appeal.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Archana/md
I.A. No.7190 of 2025 in Company Appeal (AT) (Ins.) No.1847 of 2025 2 of 2
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