Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 19, 2026
Case Overview
The order pertains to RCP No. (IB) 02/7/JPR/2026, an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was initiated by Jumbo Finvest (India) Ltd., the financial creditor, against Suvaas Homes Pvt. Ltd., the corporate debtor.
Final Outcome
During the proceedings, legal counsels for both parties, Prateek Kedawat, Adv. for the petitioner and Bhrigu Sharma, Adv. and Ritik Yadav, Adv. for the respondent, made a joint submission to the bench comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar. They stated that a settlement agreement had already been signed between Jumbo Finvest (India) Ltd. and Suvaas Homes Pvt. Ltd. Consequently, they requested time to file a formal application for the withdrawal of the insolvency petition. Granting the joint request, the NCLT bench adjourned the matter and posted the case for the next hearing on July 24, 2026.
Topics: Insolvency, Settlement, Real Estate