K V Capital Files Intervention Application in Amar Prakaash Developers Insolvency
Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 15 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an intervention application filed by K V Capital in the ongoing corporate insolvency resolution process of Amar Prakaash Developers Pvt Ltd. The application was filed in connection with main petition CP(IB)/73(CHE)/2022 and specifically seeks intervention in IA(IBC)/PLAN/11/2025.
The applicant, K V Capital, seeks to be impleaded as a necessary party in the resolution process. The primary reliefs sought include: (a) direction to the 1st and 2nd respondents to ensure completion and handing over of entire facilities and amenities as per the Agreement for Project Promotion and Construction dated 30 July 2013; (b) direction to include the compensation amount of ₹11,69,520 (approximately ₹11.69 lakh) as ordered by the Real Estate Regulatory Authority (RERA) in CCP No.134/2019 dated 16 December 2019 and EP No.4/2021 in C No.306/2019 dated 30 December 2021, in the resolution plan.
The matter was presented before the bench comprising Hon'ble Shri Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical). Mr. Adithiyan V appeared as counsel for the applicant.
Final Outcome
The Tribunal did not grant any immediate relief but listed the application (IVN.P/(IBC)/6(CHE)/2026) for hearing on 16 June 2026. The order merely adjourns the matter for further consideration without making any determinations on the merits of the application.
Topics: NCLT Proceedings, Insolvency Intervention, RERA Compensation