Case Details
Case Name: J.C. Flowers Asset Reconstruction Private Limited Vs Bliss Villa (Delhi) Private Limited
Court/Authority: National Company Law Tribunal, New Delhi Single Principal Bench
Case Number: TA (IBC)/5(PB)2026
Connected Case: C.P. (IB) No. 579/ND/2025
Order Reserved: 15.05.2026
Order Pronounced: 20.05.2026
Parties Involved
Petitioner: J.C. Flowers Asset Reconstruction Private Limited
Respondent: Bliss Villa (Delhi) Private Limited
Petitioner's Counsel: Adv. Sidhant Kumar Marwah, Adv. Ekssha Kashyap, Adv. Naman Gowda
Respondent's Counsel: Adv. Udipto Kaushik Sarmah, Adv. Kumar Shubham
Key Individuals: Rana Kapoor (Promoter/Guarantor), Bindu Kapoor (Promoter/Guarantor)
Related Entities: Bliss Abode Pvt. Ltd., Bliss House Pvt. Ltd., other related entities
Original Lender: Sammaan Capital Limited
Issues / Allegations / Violations
The transfer application was filed seeking transfer of C.P. (IB) No. 579/ND/2025 from Court-V, NCLT, New Delhi to Court-II, NCLT, New Delhi. The petitioner argued that multiple connected insolvency proceedings involving sister concerns (Bliss Abode Pvt. Ltd., Bliss House Pvt. Ltd. and other related entities) are already pending before Court-II. All these matters arise from substantially identical loan transactions, security documents, arbitral awards and defaults connected to the same promoter group and guarantors (Rana Kapoor and Bindu Kapoor).
The group entities had availed several loan facilities from Sammaan Capital Limited between 2017-2019, secured through personal guarantees, mortgage of property, pledge of shares and other security documents. Following investigation by the ED and CBI against Rana Kapoor and Bindu Kapoor, the lender recalled the loans on 09.03.2020, declared the accounts as NPAs and initiated SARFAESI and Arbitration Proceedings. Arbitral awards were subsequently passed in favour of the lender with outstanding dues rising to approximately Rs. 922.46 Crores.
The respondent contended that C.P. (IB) No. 579/ND/2025 is independent and different from other petitions pending before Court-II, NCLT, New Delhi, and no ground was made out for transfer.
Findings & Observations
The Tribunal found it manifest that insolvency proceedings involving sister concerns are pending adjudication in Court-II, NCLT, New Delhi. The loan transactions, security documents, arbitral award and defaults are in relation to the same promoter group and guarantors namely Rana Kapoor and Bindu Kapoor. The transfer would be in the interest of justice to ensure judicial consistency and to avoid conflicting orders.
Final Ruling & Enforcement
The transfer application TA (IBC)-05(PB)/2026 stands allowed. C.P. (IB) No. 579/ND/2025 stands transferred from Court-V, NCLT, New Delhi to Court-II, NCLT, New Delhi for consolidated hearing with related matters.