The NCLT allowed the application for appointment of Mr. Nishant Garg as authorized representative for a class of creditors in a CoC meeting under the IBC.
Mr. Nishant Garg is appointed as the Authorized Representative to represent the creditors in class in the meeting of the CoC.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
DIVISION BENCH ITEM NO.2 NATIONAL COMPANY LAW TRIBUNAL ALLAHABAD BENCH PRAYAGRAJ
IA No.599/2025 & IA No.600/2025 IN CP (IB) No.46/ALD/2023
CORAM:
1. SH. PRAVEEN GUPTA, HON’BLE MEMBER (JUDICIAL)
2. SH. ASHISH VERMA, HON’BLE MEMBER (TECHNICAL)
| ttendance-Cum-Order Sheet of t | Date of Order: 12thSeptember, 2025 he Hearing. |
|---|---|
| NAME OF THE COMPANY | AYODHYA FINLEASE LIMITED V/S SRGP CORPORATION |
| LIMITED | |
| UNDER SECTION | 7 IBC (IN CIRP) |
Attendance-Cum-Order Sheet of the Hearing.
COUNSEL APPEARED THROUGH PHYSICAL/ VIRTUAL HEARING: Sh. Vinod Chaurasia, Adv. : For the Applicant/ IRP
ORDER
IA No.599/2025
1. Ld. Counsel representing the IRP submits that this application has been filed for placing on record the report the Constitution of CoC. He submits that the detailed particulars of the creditors, whose claims have been received and admitted so far, is given at page nos.12 & 13 of the paper book.
2. Let the Constitution of CoC be taken on record, subject to just exceptions.
3. Accordingly, IA No.599/2025 stands disposed off.
IA No.600/2025
1. This application has been filed on behalf of the IRP for appointment of the Authorized Representative of the Financial Creditor namely the Creditors in Class.
2. Ld. Counsel representing the IRP submits that there are 15 homebuyers (creditors in class), and therefore in order to represent them in the meeting -Sd-Sd-
-1/2-
of the CoC, a publication was issued in the newspaper on 04.08.2025, whereby only three votes have been cast in favour of Mr. Nishant Garg to represent as an Authorized Representative of these creditors in class in the meeting of the CoC, the said voting percentage is given at page no.6 of the paper book of this application.
3. In view of the averments made in the application and the submissions made by the Ld. Counsel representing the IRP, the present application is allowed. Mr. Nishant Garg is therefore declared as an Authorized Representative to represent the creditors in class in the meeting of the CoC.
4. Accordingly, IA No.600/2025 stands disposed off.
5. Let the matter be put up on the date already fixed i.e. on 19th September, 2025.
-Sd- (Ashish Verma) Member (Technical)
-Sd- (Praveen Gupta) Member (Judicial)
12th September, 2025
Kavya Prakash Srivastava (Stenographer)
-2/2-
1 issue framed by the court
For appointment of authorized representative for financial creditors in class during CoC meeting
AYODHYA FINLEASE LIMITED
SRGP CORPORATION LIMITED
PRAVEEN GUPTA
ASHISH VERMA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
