FS Housing and Jumbo Finvest Settle Insolvency Petition

Authority: National Company Law Tribunal (NCLT), Jaipur Bench

Order Date: June 19, 2026

Case Overview

The proceeding involves an insolvency petition (RCP No. (IB)-5/7/JPR/2026) filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Financial Creditor, Jumbo Finvest (India) Ltd., had initiated the petition against the Corporate Debtor, FS Housing Pvt. Ltd.

During the hearing, legal counsels for both parties, Prateek Kedawat for the petitioner and Bhrigu Sharma along with Ritik Yadav for the respondent, made a joint submission to the bench comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar. They informed the tribunal that the parties had already executed a settlement agreement outside of the court proceedings.

Final Outcome

Based on the joint request, the NCLT bench adjourned the matter and posted the case for the next hearing on July 24, 2026. The adjournment was granted to allow the parties time to file an appropriate application for the formal withdrawal of the insolvency petition, in light of their settlement.

Topics: Insolvency, Settlement, NCLT