Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 19, 2026
Case Overview
This is an order in the matter of RCP (IB) No. 4/95/JPR/2026, an insolvency petition filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant is Jumbo Finvest (India) Ltd., and the respondent is Charan Singh Khangarot, who is listed as the Personal Guarantor to the Corporate Debtor, Suvaas Homes Pvt. Ltd. During the hearing, the counsels for both parties, Prateek Kedawat for the petitioner and Bhrigu Sharma and Ritik Yadav for the respondent, made a joint statement before the bench comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar. They informed the tribunal that a settlement agreement had already been signed between the parties involved in the dispute.
Final Outcome
Based on the joint request from both counsels, the NCLT has adjourned the matter. The next hearing is posted for July 24, 2026, to allow the parties time to file an appropriate application for the withdrawal of the present petition, formalizing the settlement.
Topics: Insolvency, Settlement