Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 13 July 2026
Case Overview
This order addresses several interlocutory applications (IAs) filed within the main insolvency petition (IB-239(PB)/2023) initiated by Vipul Jain and Rachna Jain against Raheja Developers Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Corporate Insolvency Resolution Process (CIRP) is ongoing for the real estate company. The bench, comprising Justice Anupinder Singh Grewal and Shri Ravindra Chaturvedi, heard arguments from multiple parties, including the petitioners, the respondent (Raheja Developers), a homebuyer, the Resolution Professional (RP), and representatives from DHBVN (Dakshin Haryana Bijli Vitran Nigam).
Final Outcome
The tribunal issued orders on each application:
- IA-232/2026: Dismissed as withdrawn. The applicant's counsel sought permission to withdraw to pursue an alternative remedy available under law, which was granted.
- IA-1989/2026: Dismissed as withdrawn. The applicant sought liberty to refile a claim with all relevant documents for the RP's consideration. The RP submitted that any claim filed with proper documentation would be considered in accordance with law. The application was dismissed with this liberty.
- Cont. P-39/2025, IA-1348/2025, IA-2980/2026, and IA-2649/2026: These four applications, which include matters involving a homebuyer and DHBVN, were not adjudicated. The tribunal adjourned these matters and listed them for the next hearing on 04 August 2026.
The CIRP for Raheja Developers Limited therefore continues, with several pending applications to be heard at a future date.
Topics: Insolvency Proceeding, Real Estate, NCLT Order