(2022) ibclaw.in 204 SC
IN THE SUPREME COURT OF INDIA
Bhaskar Biswas
v.
Avaani Oxford Owners Association and Ors.
Civil Appeal No. 5055/2021
Decided on 09-Nov-22
Coram: Mr. Justice Dinesh Maheshwari and Mr. Justice Sudhanshu Dhulia
Add. Info:
Impugned Order: Bhaskar Biswas, Suspended Director of Oxford Facilities Management Vs. Avaani Oxford Owners’ Association (2021) ibclaw.in 316 NCLAT
Corporate Debtor: Oxford Facilities Management
Brief about the decision:
Judgment/Order:
O R D E R
By way of this appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’), the appellant, suspended Director of the Corporate Debtor, seeks to question the order dated 13.07.2021 passed by the National Company Law Appellate Tribunal, New Delhi in Company Appeal (AT) (Insolvency) No. 864 of 2020 whereby, the Appellate Tribunal has declined to interfere with the order dated 13.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench, Kolkata) in CP (IB) No. 2084/KB/2019, admitting the application under Section 7 of the Code, as filed by respondent No. 1 – Avaani Oxford Owners’ Association, an association of the allotees of the real estate project.
Having heard learned senior counsel for the appellant and learned counsel appearing for the respondents and having perused the material placed on record, we are satisfied that the view taken by the Appellate Tribunal and the Adjudicating Authority, that the amount raised from the allottees of the real estate project towards maintenance charges and sinking fund was answering the description of financial debt within the meaning of Section 5(8)(f) of the Code and hence the application under Section 7 of the Code made on their behalf was maintainable, is a justified view of the matter. Therefore, no case for interference is made out.
Accordingly, this appeal stands dismissed.
However, looking to the nature of dispute and the respective stand of the parties, it is considered proper to observe that dismissal of this appeal shall otherwise be of no impediment in the process of further/other proceedings in accordance with law.
……………………………………., J.
[DINESH MAHESHWARI]
……………………………………., J.
[SUDHANSHU DHULIA]
New Delhi;
November 09, 2022.
Original judgment copy is available here.
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