Case Details
Case Name: Sandip Bagchi & Ors. vs. Pushpanjali Realms Infratech Limited
Court/Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Case Number: CP (IB) No.67/ALD/2023
Date of Order: 20th May, 2026
Nature of Proceeding: Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC)
Interlocutory Applications: IA No.606/2025, IA No.350/2024, IA No.650/2024, IA No.236/2025, IA No.581/2025 & IA No.598/2025
Parties Involved
Corporate Debtor: Pushpanjali Realms Infratech Limited
Petitioners: Sandip Bagchi & Others
Resolution Professional: Represented by Sh. Sagar Arora, Sh. Abhinandan Sharma, Sh. Samaksh Goyal, Sh. Abhishek Anand with Sh. Karan Kohli & Ms. Simran Gupta
SRA (Alphabet Consortium): Represented by Sh. Sanyam Goel
Tribunal Members: Shri Praveen Gupta (Hon'ble Member - Judicial), Shri Ashish Verma (Hon'ble Member - Technical)
Current Status & Developments
PMLA Application: The Resolution Professional (RP) has filed an application under Section 8 of the Prevention of Money Laundering Act (PMLA) before the appropriate court seeking release of the Corporate Debtor's assets.
Resolution Plan Approval: The Committee of Creditors (COC) has approved a Resolution Plan for Pushpanjali Realms Infratech Limited. An application for approval of this Resolution Plan has been filed with the NCLT.
Procedural Order
The NCLT has adjourned the matter for further hearing on 13th July, 2026. The case is to come up higher on the board for that date.
Final Ruling & Next Steps
The order represents a procedural adjournment rather than a final ruling. The next hearing is scheduled for July 13, 2026, where matters related to the PMLA application and the approval of the Resolution Plan are expected to be addressed.