Authority: National Company Law Tribunal, Kolkata Bench, Court-II

Order Date: 22 June 2026

Case Overview

This application was filed by M/s Anu Agro Private Limited, a homebuyer and member of the Committee of Creditors (CoC) of Avani Projects and Infrastructure Limited (Corporate Debtor). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 13 March 2019 following a petition by Devi Trading And Holding Private Limited. The applicant, Anu Agro, had its claim of ₹2,07,41,600/- provisionally admitted by the Resolution Professional (RP) on 2 January 2026 after a delay condonation order from the NCLT dated 23 June 2025. The applicant subsequently executed a Non-Disclosure Undertaking on 5 March 2026 and a specific Non-Disclosure Agreement on 2 April 2026 seeking access to the Resolution Plan submitted by M/s Prominent Suppliers Pvt. Ltd. and the Information Memorandum. Despite repeated requests via emails from March to April 2026, neither the RP (Ajay Kumar Agarwal) nor the Authorised Representative (AR) of the homebuyers (Ashok Agarwal) provided the documents. Each party shifted responsibility to the other, with the RP stating information was disseminated through the AR, and the AR stating the documents were not in his possession and could only be provided by the RP. The applicant contended this failure deprived it of meaningful participation in the CIRP and exercise of its voting rights.

The Tribunal observed that the applicant, as an admitted creditor, was entitled to participate in the CIRP. It found a lack of coordination between the RP and the AR, which resulted in avoidable hardship to the applicant. The AR was criticized for not acting with greater diligence to address the applicant's grievances. However, the Tribunal also noted that the applicant was aware of the non-supply much earlier but delayed seeking judicial intervention, only filing the application after the CoC had already considered the Resolution Plan and the CIRP had progressed substantially.

Final Outcome

The application (I.A. (IBC) 779(KB) of 2026) was allowed. The Resolution Professional was directed to furnish the Resolution Plan (specifically pertaining to the Avani Grand Project), the Information Memorandum, and other permissible CIRP-related documents to the applicant, subject to standard confidentiality requirements under the Code and Regulations.

Topics: Insolvency Resolution, Homebuyer Rights, Document Access