Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 17 July 2026

Case Overview

This appeal challenges the impugned order dated 20 January 2026 passed by the Learned Adjudicating Authority (NCLT) in Company Appeal (AT) (Insolvency) No. 634 of 2026. The appellant, Agrante Developers Private Limited, is appealing against the Resolution Professional (Mr. Rakesh Kumar Gupta) and Earth Buildprop Private Limited (the Corporate Debtor).

The core dispute concerns the rejection of Agrante Developers' claim in the corporate insolvency resolution process of Earth Buildprop. The Adjudicating Authority rejected the claim on the ground of lack of privity of contract, stating that no contractual relationship exists between the applicant (Agrante) and the Corporate Debtor (Earth Buildprop). The authority noted that Agrante's case rests on a Development Agreement dated 23 May 2012 executed with SIIPL, and that a subsequent Development Agreement dated 7 February 2013 between SIIPL and the Corporate Debtor does not create any direct liability of Earth Buildprop towards Agrante Developers.

The appellant, represented by Senior Advocate Mr. Arvind Nayyar, argues that certain clauses of both Development Agreements (23.05.2012 and 07.02.2013) were not properly examined by the Adjudicating Authority. The appellant contends these clauses would demonstrate that the corporate debtor (Earth Buildprop) had an obligation to indemnify the appellant, thereby establishing their status as a creditor under the Insolvency and Bankruptcy Code.

Final Outcome

The NCLAT Bench comprising Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member Technical) has not made a final ruling. The tribunal has directed the appellant to file a two-page note demonstrating whether these specific contractual arguments were previously made before the Learned Adjudicating Authority and whether they were examined. The appeal has been adjourned and is listed for next hearing on 20 August 2026.

Topics: Insolvency Claims, Contractual Privity, NCLAT Proceedings