Case Details
Case Name: In the matter of Idbi Trusteeship Services Limited Vs. Shree Vardhman Buildprop Private Limited
Court/Authority: National Company Law Tribunal (NCLT), New Delhi Court-IV
Case Numbers: IB/445/ND/2023 with interconnected applications IA (Plan)/26/ND/2025, IA/3699/ND/2024, IA/801/ND/2026, IA/1799/ND/2026
Date of Order: 20 May 2026
Under Section: 7 of the Insolvency and Bankruptcy Code (IBC), 2016
Parties Involved
Petitioner/Applicant: Idbi Trusteeship Services Limited
Respondent: Shree Vardhman Buildprop Private Limited
Representation Present:
- For the Resolution Professional (RP): Mr. Abhirup Das Gupta, Mr. Rahul Gupta, Mr. Rahul Dadhich, Ms. Vagisha Tiwari, Advs., Ms. Salonee Shukla, Ms. Shalini Singh
- For the Suspended Director: Mr. Abhishek Anand, Mr. Rajat Juneja, Ms. Sakshi Kapoor
- For the Respondent: Mr. Krishnendu Dutta (Sr. Adv.), Mr. Pranjit Bhattacharya, Ms. Salonee Shukla, Ms. Shalini Singh for R-1, R-3 & R-4 in IA-3699/2024
Proceedings & Adjournments
IA (Plan)/26/ND/2025: Matter listed for hearing on 21 May 2026.
IA/3699/ND/2024: Heard arguments from the Applicant's counsel, Resolution Professional's counsel, and Senior Counsel for Financial Creditors. Rejoinder arguments from the Applicant were heard in part. Matter adjourned to 21 May 2026 for continuation of arguments.
IA/801/ND/2026: Applicant's counsel sought time to amend the memo of parties to include the land owner as an additional respondent. Matter adjourned to 21 May 2026.
IA/1799/ND/2026: Matter listed for hearing on 21 May 2026.
Final Ruling & Enforcement
The Bench comprising Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Shri Atul Chaturvedi adjourned all four interconnected applications to 21 May 2026 for further hearing and proceedings. No final decision was rendered in this order.