Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Order Date: July 2, 2026
Case Overview
This is an appeal (Company Appeal (AT) (Insolvency) No. 1136 of 2026) filed by IIFL Home Finance Ltd. through its authorized representative, Mr. Vijay Dutt. The appellant is challenging an order passed by the Adjudicating Authority (NCLT) on an application filed by the homebuyers (Respondents 3 to 20) in the Corporate Insolvency Resolution Process (CIRP) of Tushar Real Home LLP.
The impugned order had directed the Resolution Professional (RP), Mr. Satyendra P. Khorania (Respondent-1), to re-verify the claim submitted by IIFL Home Finance and to accept it only to the extent of the amount disbursed to the appellant. IIFL Home Finance, represented by senior counsel Shri Krishnendu Datta, contends that it was a co-borrower and that its liability pertains to the entire loan amount. The appellant argues that the acceptance of its claim should not be limited merely to the disbursed amount, a submission the NCLAT has noted requires further scrutiny.
Final Outcome
The NCLAT issued notice to the respondents. Counsel for the Resolution Professional (R-1) and the homebuyers (R-3 to 20) accepted notice. Notice was also issued to the other respondents. The tribunal directed the respondents to file their replies within 10 days and the appellant to file a rejoinder within one week thereafter. The appeal was listed for the next hearing on July 28, 2026.
As an interim measure, the NCLAT permitted the Resolution Professional to proceed in accordance with the impugned order but explicitly directed that no resolution plan shall be put for voting. Any actions taken pursuant to the NCLT's order will be subject to the final outcome of this appeal.
Topics: Insolvency, Claim Verification, Homebuyers