NCLT Orders Hearing on Vardhaman Estates Claim Dispute

Case Details

Case Name: Sanjib Kumar & Ors. vs. M/s. Vardhaman Estates & Developers Pvt. Ltd.

Court/Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench

Case Number: IB-674(PB)/2021

Date of Order: 19.05.2026

Nature of Case: Order under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 (CIRP).

Parties Involved

Petitioner: Sanjib Kumar & Ors.

Respondent: M/s. Vardhaman Estates & Developers Pvt. Ltd.

Representation for Respondent: Kailash Ram, Ms. Roopali, Ms. Varsha Himatsinghka Advocate (in IA-29/2025 Plan), Ms. Shivani Pegatraju, Advocate, Mr. Prabhav Ralli, Mrs. Radhika Gupta, Mrs. Deevya Mittal, Mr. Saket Verma, Advocate for R-1

Representation for Resolution Professional (RP): Ms. Eshna Kumar, for R4(CoC) in IA-2207/2026, Mr. Abhishek Anand, Advocate along with Mr. Karan Kohli, Ms. Ridhima Mehrotra, Ms. Vanshika Dhoot, Advocates

Representation for SRA: Mr. Mansumyer Singh, Mr. Shivank Parashar, PCS and Ms. Vedanshi, Advocates

Bench: Justice Anupinder Singh Grewal (Hon'ble President) and Shri Ravindra Chaturvedi (Hon'ble Member (Technical))

Issues / Allegations / Violations

This interim application (IA-2207/2026) concerns the implementation of a previous NCLT order dated 03.02.2026. The learned senior counsel for the applicant submitted that although the court had directed the Resolution Professional to admit the claim of the Applicant with regard to a Hotel and 12 units, the RP did not hold the petitioner entitled to allotment of the same. Instead, the RP asked the applicant to pay an additional sum of Rs. 1500 per square foot as escalation charges towards the hotel without any basis. Furthermore, the 12 units that were allotted to the applicant were cancelled by the RP.

Findings & Observations

The Tribunal noted the submissions from the applicant's counsel regarding the RP's actions. Mr. Abhishek Anand, accepting notice on behalf of the respondent no. 1 (Resolution Professional), submitted that the order of the Court had been complied with and was duly considered by the RP. He prayed for time to file a reply along with a synopsis.

Final Ruling & Enforcement

The Tribunal issued notice to the respondents. The matter was listed for further hearing on 26.05.2026. Several other connected applications were also listed for the same date: IA-29/2025 Plan, Cont. P-12/2025, IA-4846/2024, and IA-724/2026.

The order was signed by Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member (Technical)).