Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 13.07.2026
Case Overview
The National Company Law Tribunal (NCLT) heard multiple interlocutory applications in the matter of Surinder Aggarwal & Ors (Petitioner) versus Raheja Developers Limited (Respondent) under Section 7 of the Insolvency & Bankruptcy Code, 2016. The proceedings involve a corporate insolvency resolution process (CIRP) against real estate developer Raheja Developers Limited. The bench comprised Justice Anupinder Singh Grewal (Hon'ble President) and Shri Ravindra Chaturvedi (Hon'ble Member - Technical).
Final Outcome
The tribunal disposed of three applications:
1. New IA-3058/2026: Notice issued to respondent Raheja Developers Limited. The respondent must file reply/objections within 10 days of receiving notice. An affidavit of service must be filed within one week. The matter is listed for next hearing on 19.08.2026.
2. New IA-3059/2026: The application sought appointment of an Authorised Representative for the class of creditors comprising homebuyers/allottees. The tribunal allowed the application and appointed Mr. Ajay Kumar Siwach (IBBI/IPA-002/IPN00668/2018-2019/12214) as Authorised Representative. The appointment was based on voting results showing 332 out of 392 homebuyers voted in favor of Mr. Siwach.
3. New IA-3060/2026: The application sought to take on record the report dated 01.07.2026 certifying the constitution of the Committee of Creditors under Section 21(1) of the IBC read with Regulation 17(1) of the IBBI Regulations. The tribunal accepted the report on record subject to all just exceptions and directed the office to maintain the record for final disposal.
Topics: Insolvency Proceedings, Homebuyer Representation, Committee of Creditors