Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 15, 2026
Case Overview
This hearing concerns Corporate Insolvency Resolution Process (CIRP) CP No. (IB)-170/7/JPR/2019, initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by the Financial Creditor, M/s AU Small Finance Bank Ltd., against the Corporate Debtor, M/s Coral Infragold Pvt. Ltd. The matter is being heard by a bench comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar. The Learned Resolution Presenter (RP) was present in person. The update provided pertained to the handover of possession of dwelling units to allottees in the real estate project.
Final Outcome
The bench was informed that the allottee of Flat No. 601 had successfully registered the sale deed on June 8, 2026. However, allottees of Flat Nos. 506, 606, 703, and 806 had raised issues concerning shortcomings in their respective units. The RP stated that after reviewing these issues, personnel had been assigned to rectify the shortcomings. The RP estimated that this rectification work would require approximately 10 more days before possession of these units could be handed over. Consequently, the matter was adjourned and is scheduled to be taken up for further consideration on June 17, 2026.
Topics: Insolvency Proceeding, Real Estate, Possession Handover