# In the matter of Neesa Infrastructure Limited

> NCLT judgment dated 2025-09-08. Citation: TCN-2025-NCLT-01375. The Applicants, flat purchasers in the 'Neesa Sarene Valley' project, filed an interlocutory…

- **Court:** NCLT
- **Order date:** 8 Sept 2025
- **Citation:** TCN-2025-NCLT-01375
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/neesa-infrastructure-limited-8521cc73

## Summary

### Background

The Applicants, flat purchasers in the 'Neesa Sarene Valley' project, filed an interlocutory application (IA/995(AHM)2025 in IA/24(AHM)2024) under Section 60(5) of the IBC, 2016, seeking directions regarding the distribution of Rs. 6.08 crore, which was earmarked for them by a DRT order before the Corporate Debtor's insolvency.

## Facts

Applicants are flat purchasers in the project 'Neesa Sarene Valley' of M/s. Neesa Infrastructure Ltd.

Applicants booked flats under the project and made payments, expecting possession by 31.12.2014.

Construction pace was slow, and the project faced financial difficulties.

Applicants were unaware of the mortgage of the Subject Property with the Bank.

Applicants filed S.A. 062 of 2016 before the Hon'ble DRT at Jaipur to restrain Respondent No. 2 from taking coercive steps.

DRT, Jaipur, vide order dated 10.08.2017, directed the Bank to appropriate Rs. 7.50 crores and keep the remaining amount of Rs. 6.08 crore in 'No Lien Interest Bearing Account' for the Applicants' benefit.

NCLT at Ahmedabad admitted M/s. Neesa Infrastructure Ltd. into insolvency on 19.06.2023.

…

## Issues and analysis

### Issue 1: Whether the NCLT has jurisdiction under Section 60(5) of the IBC, 2016 to direct the distribution …

**Ratio:** Section 60(5) of the IBC, 2016 confers jurisdiction on the NCLT to entertain or dispose

…

**Reasoning:** The NCLT's jurisdiction is limited to questions arising out of or in relation to the

…

**Interpretation:** The NCLT's power to direct distribution is confined to assets within the

…

**Application:** Since the Rs. 6.08 crore was not part of the liquidation estate, directing its

…

## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Sanjiv Kuma…; Vibha A…; +46 more
- **Respondents:** Neesa Infrastructu…; Jigar T. Bhatt,…; +1 more
- **Other parties:** Jigar T.…
- **Advocates:** Arpit Si…

## Timeline

- **2011 — Marketing E…**: M/s. Neesa Infrastructure Ltd. undertook…
- **2014-12-31 — Expected Posses…**: Applicants were assured possession of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-ahmedabad/neesa-infrastructure-limited-8521cc73