M/s Karan Motors Private Limited, Office Flat No. 118, First Floor, Kirti Shikhar Building, Plot No. 11, District Centre, Janakpuri, New Delhi110058. ...Respondent. WITH Company Appeal (AT) (Insolvency) No. 721 of 2020 [Arising out of order dated 18.02.2020 in CP (IB)702/ND/2019 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench V] IN THE MATTER OF: Shally Sati D/o Sh. Hansa Dutt Sati R/o H.No. 7/14, Street No. 14, DBlock, Kamalpur, Kamalvihar, Santnagar Burari, Delhi110084. ....Appellant. Versus M/s Karan Motors Private Limited, Office Flat No. 118, First Floor, Kirti Shikhar Building, Plot No. 11, District Centre, Janakpuri, New Delhi110058. ...Respondent. 2 WITH Company Appeal (AT) (Insolvency) No. 722 of 2020 [Arising out of order dated 18.02.2020 in CP (IB)705/ND/2019 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench V] IN THE MATTER OF: Deepa Sati D/o Sh. Hansa Dutt Sati R/o H.No. 7/14, Street No. 14, DBlock, Kamalpur, Kamalvihar, Santnagar Burari, Delhi110084. ....Appellant. Versus M/s Karan Motors Private Limited, Office Flat No. 118, First Floor, Kirti Shikhar Building, Plot No. 11, District Centre, Janakpuri, New Delhi110058. ...Respondent. WITH Company Appeal (AT) (Insolvency) No. 723 of 2020 [Arising out of order dated 18.02.2020 in CP (IB)706/ND/2019 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench V] IN THE MATTER OF: Hansa Dutt Sati, S/o Sh. K.N. Sati R/o H.No. 7/14, Street No. 14, DBlock, Kamalpur, Kamalvihar, Santnagar Burari, Delhi110084. ....Appellant. Versus M/s Karan Motors Private Limited, Office Flat No. 118, First Floor, Kirti Shikhar Building, Plot No. 11, District Centre, Janakpuri, New Delhi110058. ...Respondent. Company Appeal (AT) (Insolvency) Nos. 719, 721, 722, 723 & 728 of 2020 3 WITH Company Appeal (AT) (Insolvency) No. 728 of 2020 [Arising out of order dated 18.02.2020 in CP (IB)743/ND/2019 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench V] IN THE MATTER OF: Asha Devi, W/o Sh. Ranjeet Singh, R/o 24A, New Guru Hari Kishan Nagar, Nilothi Extension, West Delhi, Delhi110041. ....Appellant. Versus M/s Karan Motors Private Limited, Office Flat No. 118, First Floor, Kirti Shikhar Building, Plot No. 11, District Centre, Janakpuri, New Delhi110058. ...Respondent. Present: For Appellant: Ms. Shrey Vardhan Rateria and Mr. Rahul Kumar, Advocates. For Respondent: Mr. Chandra Shekhar Gupta, Advocate. Company Appeal (AT) (Insolvency) Nos. 719, 721, 722, 723 & 728 of 2020 4 JUDGMENT (18th August, 2021) Justice Anant Bijay Singh; INDEX A The Appeal. B The facts of these Appeals. C Submissions on behalf of the Appellants in Company Appeal (AT) (Insolvency) No. 719 of 2020, Company Appeal (AT) (Insolvency) No. 721 of 2020, Company Appeal (AT) (Insolvency) No. 722 of 2020, Company Appeal (AT) (Insolvency) No. 723 of 2020 and Company Appeal (AT) (Insolvency) No. 728 of 2020. D Submissions on behalf of the Respondent 'Corporate Debtor'. E Findings. F Order. Company Appeal (AT) (Insolvency) Nos. 719, 721, 722, 723 & 728 of 2020 5 A The Appeal 1. All these Appeals are arising out of the common order dated 18.02.2020 passed by the Adjudicating Authority (National Company Law tribunal), New Delhi BenchV, whereby the Ld. Adjudicating Authority has passed following orders: