Authority: National Company Law Tribunal (NCLT), Jaipur Bench
Order Date: June 19, 2026
Case Overview
The case involves an insolvency petition, RCP (IB) No. 3/95/JPR/2026, filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant is Jumbo Finvest (India) Ltd. The respondent is Narendra Singh Laxman Singh Rathore, who is the personal guarantor (PG) to the corporate debtor, Suvaas Homes Pvt. Ltd. The matter was heard by a bench comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar. Legal counsel for both parties were present.
Final Outcome
The counsels for both parties made a joint submission to the tribunal. They stated that a settlement agreement had already been signed between Jumbo Finvest (India) Ltd. and the personal guarantor. Based on this settlement, they requested time to file an appropriate application for the withdrawal of the present insolvency petition. The NCLT bench accepted this joint request and adjourned the matter. The case is now posted for the next hearing on July 24, 2026, for the filing of the formal withdrawal application.
Topics: Insolvency, Settlement, NCLT