Module: General Practice
Q135: Scenario: 'Skyline Buildtech' and 'Skyline Infra', two separate companies with the same promoters, are developing a township. Homebuyers have allotted units in both. In February 2026, homebuyers filed a single joint Section 7 petition against both companies. The companies challenged this, arguing they are separate legal entities. Based on the Supreme Court judgment in Satinder Singh Bhasin (Feb 2026), is the joint petition maintainable?
✅ Correct Answer: B
Case Reference: This is based on the Supreme Court judgment in Satinder Singh Bhasin vs.
Col.
Gautam Mullick (Decided Feb 2, 2026). Ruling: The Court held that a single Section 7 petition can be maintained against two or more Corporate Debtors if they are intrinsically linked (e.g., same promoters, same project land, inter-corporate deposits, common marketing). Rationale: The strict adherence to separate legal entities would defeat the purpose of resolution in real estate groups where funds and assets are often commingled.
Col.
Gautam Mullick (Decided Feb 2, 2026). Ruling: The Court held that a single Section 7 petition can be maintained against two or more Corporate Debtors if they are intrinsically linked (e.g., same promoters, same project land, inter-corporate deposits, common marketing). Rationale: The strict adherence to separate legal entities would defeat the purpose of resolution in real estate groups where funds and assets are often commingled.