Shri Gopichand H Krishnani vs R.K Jain Construction India Pvt Ltd

Gopichand H Krishnani ...Appellant

Versus

Vinodkumar Pukhraj Ambavat Resolution Professional R.K. Jain Construction (India) Pvt. Ltd. ...Respondent

Present: For Appellant: Mr. Jasmeet Singh, Mr. Pushpendra S. Bhadoriya and Mr. Guneet Sidhu, Advocates. For Respondent: Ms. Pratiksha Sharma, Mr. Ankit Acharya, Mr. Mueed Shah and Mr. Kunal Kanungo, Advocates.

ORDER

29.08.2022: Heard learned counsel for the Appellant. This Appeal has

been filed against order dated 07.07.2022 passed by the Adjudicating

Authority (National Company Law Tribunal), Cuttack Bench by which order

I.A. No. 296/CB/2020 has been rejected.

2. Appellant filed its claim claiming he payment of market value of the

property - Shop No. 204 at R. K. Mall and certain other claims. The

Adjudicating Authority has considered the claim in Para 4 of the order and

has observed that it appears that the sale deed is sham and nominal

document created with ulterior motive. Adjudicating Authority also observed

that other claim of the Appellant is barred by time.

Cont'd....../ 2

3. Learned counsel for the Appellant submits that the Adjudicating

Authority had no jurisdiction to ask the Appellant to show source and means

to purchase the property.

4. The Adjudicating Authority in the present case has looked into the

document and attending circumstance, to find out whether the document

which is basis of the claim is sham and nominal. When the payment of the

Appellant is not reflected in the account books of the Corporate Debtor, the

court naturally would raise adverse inference. We do not find any error in

the order of the Adjudicating Authority rejecting the claim of the Appellant.

There is no merit in the Appeal. Appeal is dismissed.

[Justice Ashok Bhushan] Chairperson

[Justice M. Satyanarayana Murthy] Member (Judicial)

[Barun Mitra] Member (Technical) Archana/nn

Company Appeal (AT) (Insolvency) No. 1040 of 2022