Case Details

Case Name: Capriso Finance Ltd. vs. Trishul Dream Homes Limited

Court/Authority: National Company Law Tribunal (NCLT), Chandigarh Bench (Court – II) (Special Bench)

Case Number: CP (IB) No.132/Chd/Hry/2022 (Admitted)

Order Date: 19 May 2026

Next Listing Date: 08 June 2026

Sections Involved: Sections 7, 60(5), 19(2), 43(1) r/w 44(1), 45(1), 66(1) of the Insolvency and Bankruptcy Code (IBC), 2016; Section 425 of the Companies Act, 2013; Rule 11 of NCLT Rules, 2016

Parties Involved

Petitioner/Applicant: Capriso Finance Ltd.

Respondent: Trishul Dream Homes Limited

Other Parties: Monitoring Professional, District Town Planner (DTP), State of Haryana

Legal Representatives:

  • For Applicant/Monitoring Professional: Mr. Aalok Jagga, Mr. Aryaman Jagga, Mr. Sahil Lohan, Mr. APS Madaan, Advocates
  • For Applicant in IA(I.B.C)/864(CH)2025: Mr. Arun Saxena, Advocate
  • For Respondent-DTP: Mr. Piyush Bansal, Advocate
  • For State of Haryana: Mr. Shekhar Raj Sharma, Additional Advocate General

Issues / Allegations / Violations

This order deals with procedural updates and multiple Interlocutory Applications (IAs) within a larger corporate insolvency process. A specific contempt application (CONT.A.(IBC)/5(CH)2026) has been filed against the Respondent Department/District Town Planner (DTP) for non-compliance, though the specific nature of the alleged non-compliance is not detailed in this procedural order.

Findings & Observations

The Bench noted that the learned counsel for the State of Haryana sought two days' time for filing a reply to the contempt application. In another application (IA(I.B.C)/2471(CH)2024), a dispute arose regarding the filing and service of a reply, with the applicant's counsel claiming non-receipt.

Penalties / Settlements / Directions

  • For CONT.A.(IBC)/5(CH)2026: The Respondent/DTP is granted two weeks to file a reply to the contempt application. The order states that if the reply is not filed within this timeframe, the right to file it shall stand struck off.
  • For IA(I.B.C)/2471(CH)2024: The learned Counsel for the Respondent is directed to provide a copy of the already filed reply to the opposite counsel (Mr. Arun Saxena) within two weeks at the email address provided in the chat box.
  • A rejoinder, if any, is to be filed within one week after receipt of the reply, with an advance copy to the opposite counsel.

Final Ruling & Enforcement

The Tribunal adjourned all listed applications and listed the entire matter for the next hearing before the Regular Bench on 08.06.2026. No substantive ruling on the merits of the insolvency or the contempt allegation was made in this order.

List of Adjourned Applications:

  • IA(I.B.C.)/1634(CH)2025
  • IA(I.B.C)/1736(CH)2023
  • IA(I.B.C)/702(CH)2024
  • IA(I.B.C)/703(CH)2024
  • IA(I.B.C)/2445(CH)2024
  • IA(I.B.C)/2471(CH)2024
  • IA(I.B.C)/864(CH)2025
  • CONT.A.(IBC)/5(CH)2026