Introduction
Mist Avenue Pvt. Ltd. (“Mist Avenue“), Mist Direct Sales Pvt. Ltd. (“Mist Direct“) and Anand Infoedge Pvt. Ltd. (“Anand Infoedge“) (collectively “Appellants“) filed three separate Appeals1 before the Hon’ble National Company Law Appellate Tribunal, New Delhi (“NCLAT“) challenging the order dated October 21, 2022 (“Impugned Order“) passed by the National Company Law Tribunal, New Delhi Bench (“NCLT“). By the Impugned Order, the NCLT held that the application filed under Section 7 of Insolvency and Bankruptcy Code, 2016 (“IBC“) by Nitin Batra & Ors. (“Respondents“), being the home buyers is maintainable.
