Cosmic Victims Association v. Comic Structures Limited

$~C-1 to C-7 * IN THE HIGH COURT OF DELHI AT NEW DELHI CO.APPL.(M) 6/2022, CO.APPL. 723/2023, CO.APPL. 465/2024 COSMIC VICTIMS ASSOCIATION .....Petitioner Mr. Kalyan Dutt, Adv.

COMIC STRUCTURES LIMITED .....Respondent Mr. Shlok Chandra, Mr. Parikshit Singh Bhati, Ms. Lolita Crasta, Advs.

(2) CO.APPL.(M) 7/2022 MEMBERS OF ASSETS REVIVAL SOCIETY .....Petitioner Mr. Mridula Agarwal, Adv.

COSMIC STRUCTURES LIMITED & ANR.

(3) CO.APPL.(M) 2/2023 & CO.APPL. 225/2024 COSMIC VICTIMS ASSOCIATION .....Petitioner COSMIC STRUCTURES LIMITED .....Respondent The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

(4) CO.APPL.(M) 3/2023, CO.APPL. 993/2023, CO.APPL. 52/2024 CO.APPL. 659/2024 RAJNI ANAND .....Petitioner COSMIC STRUCTURES LIMITED & ANR.

Mr.

Aditya Maheshwari, Mr.

Shashwat Mukherjee, Advs.

(5) CO.PET. 152/2016, CO.APPL. 890/2017, CO.APPL. 2037/2017, CO.APPL. 1410/2018, CO.APPL. 822/2019, CO.APPL. 823/2019, CO.APPL. 932/2019, CO.APPL. 1266/2019, CO.APPL. 11/2020 CO.APPL. 12/2020, CO.APPL. 47/2020, CO.APPL. 423/2020, CO.APPL. 441/2020, CO.APPL. 453/2020, CO.APPL. 663/2020, CO.APPL. 317/2024, CO.APPL. 320/2024, CO.APPL. 346/2024, CO.APPL. 132/2025, CO.APPL. 208/2025, CO.APPL. 257/2025, CO.APPL. 634/2025, CO.APPL. 798/2025, CO.APPL. 800/2025, CO.APPL. 803/2025, OLR 119/2018, OLR 159/2018, OLR 125/2019, OLR 310/2019 & OLR 40/2020 RAJNI ANAND .....Petitioner Mr. Rajendra Sahu, Ms. Nitika Dubey, Advs.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

COSMIC STRUCTURES LTD .....Respondent Mr. Harshit Goyal, Adv.

Mr. Daljeet Kaur, Adv.

Mr. Sandeep Kumar, Mr. Ajay Kumar, Advs.

for applicant in CO.APPL.801/2025.

Mr. Suneet Kumar Aggarwal, Adv.

Mr. Anubhav Mishra, Adv.

Ms. Swati Verma, Adv.

Ms. Yogyata Jhunjhunwala, Adv. for Smt. Sushila, & Mr. Naresh Kumar Godara.

Mr.Tushar Agarwal, Mr. Arun Kumar, Advs.

(6) CRL.M.(CO.) 1/2023, CO.APPL. 517/2025(CM For Restoration) CO.APPL. 519/2025 CASAITALIA SOCIAL WELFARE ASSOCIATION .....Petitioner Mr. Gaurav Singh, Adv.

ANUJ GAUR & ANR.

(7) The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

CRL.O.(CO.) 11/2017 & CO.APPL. 1547/2017 COSMIC STRUCTURE LTD.(IN PROV.LIQN.) .....Petitioner SUSHANT MUTTREJA & ANR.

CORAM:

HON'BLE MR. JUSTICE ANISH DAYAL

O R D E R

% 27.01.2026 CO.APPL.(M) 6/2022, CO.APPL.(M) 7/2022, CO.APPL.(M) 2/2023 & CO.APPL.(M) 3/2023 and CO.APPL. 510/2025 in CO.PET. 152/2016 These applications have been filed by respective parties propounding schemes for revival of the specific real estate projects, which belong to company in liquidation.

Ms. Ruchi Sindhwani, Senior Standing Counsel for Official Liquidator ('OL') points out that previous applications for acceptance of the Schemes were rejected by a co-ordinate Bench of this Court by order dated 6th April 2022 in CO.APPL. (M) 1/2020, order dated 26th April 2022 in CO.APPL. (M) 2/2020, order dated 30th August 2022 in CO.APPL. (M) 3/2022, order dated 4th November 2022 in CO.APPL. (M) 3/2022, and order dated 5th September 2022 in CO.APPL. (M) 4/2022.

The crux of all these decisions, rejecting the schemes, was that no upfront payments were envisaged in the schemes. The schemes were entirely dependent on leveraging the properties by mortgaging them to financial The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

institutions and utilizing the land area as well as the unsold inventory for that purpose.

4.

The other concern was that working capital was proposed to be raised for a period of five years, and would involve an additional issue of RERA approvals. In these contexts, the earlier applications were dismissed. 5.

These applications in question also propose new revival schemes. However, what has transpired in the meantime is that a land parcel, being Cosmic Masterpiece, Plot No.1, Sector 154, Noida, Greater Noida Expressway, Uttar Pradesh, was taken over on 10th February 2017; in compliance of order dated 16th April 2024, however, the possession was directed to be handed over to M/s Surya Jyoti Software Pvt. Ltd. 6.

The said order was upheld by the Division Bench by order dated 9th October 2025, and the Special Leave Petition was dismissed by the Supreme Court vide order dated 15th December 2025.

7.

Accordingly, since this particular land parcel had to be released, various applicants seek to file fresh revival scheme, which will be considered by the Official Liquidator as and when filed. 8.

Accordingly, applications stand disposed of. Liberty is granted to file afresh.

CO.APPL. 319/2019, CO.APPL. 446/2019, CO.APPL. 821/2019, CO.APPL. 1193/2019, CO.APPL. 302/2020, CO.APPL. 303/2020, CO.APPL. 454/2020, CO.APPL.

455/2020, CO.APPL.

631/2020, CO.APPL. 702/2020, CO.APPL. 741/2020, CO.APPL. 759/2020, CO.APPL. 186/2021 and CO.APPL. 821/2023 in CO.PET. 152/2016 All these applications have either been disposed of/or allowed/or rendered infructuous, as noted in various orders of the Court, provided by The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

Ms. Ruchi Sindhwani, Senior Standing Counsel for OL, as part of the tabulation presented.

All these applications may be shown as disposed of/not pending by the Registry of this Court.

CO.APPL. 1848/2017, CO.APPL. 1849/2017, CO.APPL. 194/2018, CO.APPL. 523/2018 in CO.PET. 152/2016 It is pointed out by Ms. Ruchi Sindhwani, Senior Standing Counsel for OL, that orders to dispose of such applications have already been passed on 26th April 2019 in CO.APPL. 319/2019.

The Court has no reason to differ with the view previously taken. Accordingly, applications stand disposed of with the same directions that the claims may be filed in prescribed format within a period of six weeks.

CO.APPL. 774/2018 & CO.APPL. 769/2018 (Exemptions) in CO.PET. 152/2016 Exemptions allowed, subject to all just exceptions. Applications stand disposed of.

CO.APPL. 841/2018 in CO.PET. 152/2016 This application already stands disposed of and has been rendered infructuous.

CO.APPL. 1189/2019, CO.APPL. 1190/2019, CO.APPL. 1191/2019 & CO.APPL. 1192/2019 in CO.PET. 152/2016 All these applications are disposed of as being infructuous in view of the orders being passed above.

CO.APPL. 453/2025 in CO.PET. 152/2016 Issue Notice.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

Notice is accepted by Ms. Ruchi Sindhwani, Senior Standing Counsel on behalf of Official Liquidator, who shall file a status report. Returnable on 22nd April 2026.

CO.APPL.

64/2026, CO.APPL.

452/2025, CO.APPL.

797/2025, CO.APPL. 799/2025, CO.APPL. 801/2025, CO.APPL. 802/2025 in CO.PET. 152/2016 These applications have been moved seeking condoning delay in filing the claim in prescribed format.

Applications are allowed only to the extent of first prayer Clause, relating to filing the claim in prescribed format. The same be filed within a period of next four weeks.

Applications stand disposed of.

CO.APPL. 62/2026 in CO.PET. 152/2016 This application has been filed stating that the matter is listed for final hearing on 22nd January 2026 before the National Consumer Dispute Redressal Commission (NCDRC).

Notwithstanding that the claimants would have to file a claim before the OL, considering the pleas made by counsel that the proceeding in the matter is at the tail end before the NCDRC, the application is allowed. Any decree/order which may be obtained be filed with the Official Liquidator along with the claim, if any, and will be subject to assessment by the OL in accordance with law.

4.

Application stands disposed of.

CO.PET. 152/2016 along with CO.APPL. 890/2017, CO.APPL. 2037/2017, CO.APPL. 1410/2018, CO.APPL. 822/2019, CO.APPL. 823/2019, CO.APPL. 932/2019, CO.APPL. 1266/2019, CO.APPL. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

11/2020, CO.APPL. 12/2020, CO.APPL. 47/2020, CO.APPL. 423/2020, CO.APPL. 441/2020, CO.APPL. 453/2020, CO.APPL. 663/2020, CO.APPL. 317/2024, CO.APPL. 320/2024, CO.APPL. 346/2024, CO.APPL.132/2025,CO.APPL.

208/2025, CO.APPL.

257/2025, CO.APPL. 634/2025, CO.APPL. 798/2025, CO.APPL. 800/2025, CO.APPL. 803/2025, OLR 119/2018, OLR 159/2018, OLR 125/2019, OLR 310/2019 & OLR 40/2020 CO.APPL. 517/2025(CM For Restoration) CO.APPL. 519/2025 in CRL.M.(CO.) 1/2023 & CO.APPL. 1547/2017 in CRL.O.(CO.) 11/2017 Synopsis and tabulation filed by Ms. Ruchi Sindhwani, Senior Standing Counsel for Official Liquidator, be taken on record by the Registry.

Re-notify on 22nd April 2026.

Order be uploaded on the website of this Court. ANISH DAYAL, J JANUARY 27, 2026/ak The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.