Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 17 June 2026
Case Overview
The matter before the NCLT Indore Bench involves an Interlocutory Application (IA/220(MP)2025) filed within the main insolvency proceeding (TP 230 of 2019, which originated from CP(IB) 192 of 2017). The application is filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules. The applicant is Varsha Jain, identified as a plot buyer/allottee. The respondent is Chhaya Gupta in her capacity as the Resolution Professional (RP) of JSM Devcons India Pvt Ltd, the corporate debtor.
Final Outcome
The bench, comprising Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical), adjourned the hearing. The adjournment was granted because the Court Officer informed the bench that a leave note had been received from the Respondent/Resolution Professional. In the note, the RP stated she was unable to appear before the tribunal due to personal difficulties and had sought an adjournment. Consequently, the matter was not heard on its merits and was adjourned to be listed next on 11 August 2026.
Topics: Insolvency Proceeding, Real Estate, Adjournment