# Sunita Raina vs. Mr. Bhuvan Madan (Resolution Professional) of M/s Jaiprakash Associates Limited

> NCLT judgment dated 2026-08-11. Citation: TCN-2026-NCLT-00965. Smt. Sunita Raina, an allottee in the 'Kove' real estate project by Jaiprakash Associates…

- **Court:** NCLT
- **Order date:** 11 Aug 2026
- **Citation:** TCN-2026-NCLT-00965
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-allahabad/sunita-raina-vs-mr-bhuvan-madan-bguct

## Summary

### Background

Smt. Sunita Raina, an allottee in the 'Kove' real estate project by Jaiprakash Associates Limited (Corporate Debtor), filed a claim for refund due to the Corporate Debtor's failure to deliver possession. A settlement agreement was reached but partially breached. Following the initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, the Applicant filed her claim with the Resolution Professional (RP), which was partially admitted. Aggrieved by this, she filed an application before the NCLT seeking full admission of her claim.

## Facts

Smt. Sunita Raina filed an application (IA NO.230/2026) on 30.03.2026 under Section 60(5) of the IBC, 2016, read with Rule 11 of NCLT Rules, 2016.

The Applicant sought a direction to the Resolution Professional (RP) of Jaiprakash Associates Limited to admit her claim of Rs. 84,97,647.40/-.

The Applicant booked a unit in the 'Kove' real estate project of the Corporate Debtor, M/s Jai Prakash Associate Ltd, in December 2012.

A provisional allotment letter was issued to the Applicant on 15.01.2013.

The Applicant made payments totalling Rs. 29,19,364/- towards the unit between 2013 and 2014.

As per allotment terms dated 16.06.2012, possession was due by 15.10.2016 (including a 90-day grace period).

The Corporate Debtor failed to deliver possession of the flat.

…

## Issues and analysis

### Issue 1: Whether the Resolution Professional of Jaiprakash Associates Limited should be directed to admit …

**Ratio:** The NCLT did not direct the RP to admit the claim in its entirety; instead, it directed

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**Reasoning:** The NCLT found that the "Kove" project, where the Applicant booked a unit, is

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**Interpretation:** The NCLT determined that the specific nature of the claim, being tied to a real

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**Application:** The application seeking full admission of the claim by the RP was disposed of,

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Sunita…
- **Respondents:** Jaiprakash…; Bhuvan Madan…
- **Other parties:** Committee of…; ICICI Bank…; +1 more
- **Advocates:** Aakansha…; Sanjana Sri…; +2 more

## Timeline

- **2012-12 — Unit Boo…**: Applicant Sunita Raina booked a unit in the 'Kove' real estate project of the Corporate…
- **2013-01-15 — Allotment Lett…**: A provisional allotment letter…

## 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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