Authority: National Company Law Tribunal, New Delhi Bench (Court - II)
Order Date: 12 June 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi Bench heard an application (IA-2686/ND/2026) filed by J.C. Flowers Asset Reconstruction Pvt. Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Imagine Residence Private Limited. The matter was heard through hybrid mode (VC and physical) before a bench comprising Hon'ble Member (J) Ashok Kumar Bhardwaj and Hon'ble Member (T) Atul Chaturvedi. The applicant was represented by Advocates Sandeep Bajaj, Aakanksha Nehra, and Shubham Jaiswal, along with Ms. Mamta Binani (Resolution Professional). The respondent, Imagine Residence Private Limited, was represented by Advocates Shivam Sharan and Naman Gowda.
The application sought the clubbing of Corporate Insolvency Resolution Process (CIRP) for six related companies: (i) Imagine Home Private Limited, (ii) Bliss Abode Private Limited, (iii) Bliss House Private Limited, (iv) Imagine Estate Private Limited, (v) Imagine Residence Private Limited, and (vi) Imagine Habitat Private Limited.
Final Outcome
The NCLT disposed of the application in terms of its previous order dated 11 June 2026 passed in IA-2651/ND/2026 in CP (IB)-32/ND/2026. The tribunal ordered that the CIRP for all six companies be clubbed and proceed on a consolidated basis. This means the insolvency resolution process will now be handled as a single proceeding rather than separate processes for each entity.
- Topics: Insolvency Proceedings, Corporate Restructuring, NCLT Order