Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 09/06/2026
Case Overview
This is an interlocutory application (IA/336(MP)2026) filed within the main insolvency process (TP 230 of 2019) of JSM Devcons India Pvt Ltd. The applicant, Arvind Jain, is an allottee of Plot No. 277/3/P, Zone-3, Pinnacle 'D' Desire, Indore. He filed this application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, challenging the Resolution Professional's (RP) rejection of his claim. The rejection was communicated via email on 21.05.2026. The applicant prayed for the tribunal to set aside the rejection, declare his entitlement to the plot, direct the RP to admit his claim as a financial creditor/allottee, and direct the execution and registration of the plot in his favour with peaceful possession.
During the hearing, the Respondent/Resolution Professional, Mrs. Chhaya Gupta, appeared in person and submitted that the amounts paid by the applicant for the plot were made in cash. She also informed the bench that the Hon'ble National Company Law Appellate Tribunal (NCLAT) had passed an order in a similar matter, although this order was not presented before the bench at this hearing.
Final Outcome
The two-member bench, comprising Hon'ble Shri Brajendra Mani Tripathi (Member-Judicial) and Hon'ble Shri Man Mohan Gupta (Member-Technical), did not make a final ruling on the merits of the case. The tribunal deemed it appropriate to issue formal notice to the Respondent (RP) and directed her to file a reply to the application. The applicant was directed to serve the notice along with a copy of the order. The Respondent is to file a reply within two weeks of receiving the notice, and the applicant may file a rejoinder within seven days thereafter. The matter has been adjourned and is listed next for filing the reply and proof of service on 03.08.2026.
Topics: Insolvency Proceeding, Real Estate Allottee, Claim Admission