The National Company Law Appellate Tribunal (NCLAT), Principal Bench, has directed the Ghaziabad Development Authority (GDA) to take a decision within three weeks on the sanction of a resolution plan in the corporate insolvency resolution process (CIRP) of Ansal Urban Condominiums Pvt. Ltd.
The case was filed by One City Infrastructure Pvt. Ltd., whose resolution plan for the corporate debtor has already been approved. The applicant contended that despite approval of the resolution plan, no decision had been taken by the GDA regarding extension or grant of approval of the sanctioned plan, which had lapsed during the CIRP period. It was argued that in the absence of such approval, the applicant was unable to proceed with the project, and there was urgency in taking further steps.
The Tribunal noted that it had previously directed that if an appropriate application was filed before the GDA, the authority should endeavour to dispose of it preferably within four weeks.
During the hearing, counsel for the GDA submitted that the application may be disposed of with a direction to the Authority to take a decision within three weeks. Accepting this submission, the Bench comprising Justice Ashok Bhushan (Chairperson) and Arun Baroka (Member Technical) directed the Ghaziabad Development Authority to take a decision within three weeks.
Appearances
Appellant- Mr. Sumant Batra, Ms. Anuja Pethia, Mr. Rishabh Govila and Mr. Sarthak Bhandari, Advocates for the Applicant in I.A. No. 299 of 2026. Mr. Shivam Kumar and Ms. Upasana Singh, Advocates for Applicant in I.A. No. 907 of 2026.
Respondents- Mr. Rachit Mittal, Mr. Parish Mishra, Mr. Shubham Sonthalia and Ms. Srishti Agrawaal, Advocates for GDA. Mr. Rishabh Nangia, Advocate for RP. Mr. Rajesh Ramnani, Advocate.
