Rajeev Dhawan & Ors. & Ors vs Manoj Kumar Anand (Interim Resolution ...

IN THE MATTER OF: Rajeev Dhawan & Ors. ...Appellant Versus Manoj Kumar Anand Interim Resolution Professional of Parsvnath Developers Ltd. & Ors. ...Respondents

Present: For Appellant : Mr. Vipul Ganda, Sr. Advocate with Mr. Kaushal Kait, Mr. Ishan Upadhaya, Ms. Sakshi Panwar, Mr. Navneet Saharan and Ms. Supriya Kumari Deo, Advocates.

For Respondents : Ms. Udita Singh, Advocate for R-1.

ORDER

(Hybrid Mode)

29.09.2026 : This appeal is against an impugned order dated

30.04.2026 passed by the Ld. Adjudicating Authority (National Company

Law Tribunal, New Delhi Bench (Court II)), whereby the petition under

Section 7 of the Insolvency & Bankruptcy Code, 2016 was admitted by the

Ld. Adjudicating Authority.

2. At the outset, it is submitted the appeal against the admission order

as filed by the management was dismissed by this Tribunal and has been

affirmed by the Hon'ble Supreme Court.

3. The learned Sr. Counsel for the appellant submits the appellants are

the homebuyers in Parsvnath Exotica, Tower B-1, Sector 53, Gurgaon and

they are challenging the impugned order only to a limited extent, though the

Ld. Adjudicating Authority has passed blanket admission order against the corporate debtor. It is alleged the appellants have already been handed over

the physical possession of their flats prior to the commencement of the

Corporate Insolvency Resolution Process and they have already paid the

entire sale consideration and only the occupancy certificate and as well as

certain formalities are pending due to the default of the corporate debtor. It

is submitted the appellants are residing in their respective flats and hence

intend to move an application before the Ld. Adjudicating Authority to seek

exclusion of their flats from the assets of the corporate debtor.

4. Considering the submissions made, the appeal is disposed of by

granting an opportunity to the appellants to file an application before the

Ld. Adjudicating Authority to seek exclusion of the flats of which the

possession has been handed over to them; they have been residing there for

more than 15 years and have paid the entire sale consideration.

5. Till the application is decided, the appellants shall not be

dispossessed from their respective flats and no third party rights shall be

created by the corporate debtor till such time.

6. The appeal stands disposed of in terms of the above. Pending

applications are also disposed of.

[Justice Yogesh Khanna] Officiating Chairperson

[Barun Mitra] Member (Technical)

[Ajai Das Mehrotra] Member (Technical) himanshu/md

Comp. App. (AT) (Ins.) No. 1354 of 2026 & I.A. No. 5270 of 2026 2 of 2