# In the matter of Jaiprakash Associates Limited

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00307. The Applicants, Devendra Singh Yadav and Monica Yadav, filed an application under Section…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00307
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/jaiprakash-associates-limited-0adb19f5

## Summary

### Background

The Applicants, Devendra Singh Yadav and Monica Yadav, filed an application under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, against the Resolution Professional of Jaiprakash Associates Limited, Mr. Bhuvan Madan, concerning disputes over unilateral additions and modifications in the Offer of Possession for a residential unit they booked.

## Facts

Applicants booked a residential unit in 'Knights Court', a real estate project developed by Jaiprakash Associates Limited.

The Applicants were allotted Unit No. KGT 5-801 vide Allotment Letter dated 28.10.2010.

Possession of the unit was to be delivered within 36 months from the date of issuance of the Allotment Letter, i.e., by November 2013.

The total consideration for the unit was fixed at Rs. 1,39,52,900/-, including Rs. 4,00,000/- towards car parking charges.

The Applicants approached UP RERA due to delay in delivery of possession, and RERA issued directions against the Corporate Debtor.

The Corporate Debtor preferred an appeal against the RERA order, which was dismissed.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has jurisdiction under Section 60(5)(c) of the IBC to adjudicate …

**Ratio:** The insolvency forum cannot be converted into a forum for adjudicating individual

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**Reasoning:** The Code is not intended to supplant civil remedies in matters of contractual

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**Interpretation:** Section 60(5)(c) of the IBC is not intended to provide a forum for resolving

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**Application:** In this case, since the Applicants have taken possession and executed the

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** DEVENDRA SINGH…; MONICA…; +1 more
- **Respondents:** Jaiprakash…
- **Other parties:** Bhuvan…
- **Advocates:** Sh. Aksha…; Sh. Binwant…; +4 more

## Timeline

- **2010-10-28 — Allotment…**: Applicants were allotted Unit No.…
- **2013-11-01 — Possessio…**: Scheduled date for…

## 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)

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