# In the matter of JSM Devcons India Pvt. Ltd.

> NCLT judgment dated 2024-11-11. Citation: TCN-2024-NCLT-00278. The case involves an application filed by Mr. Arvind Pradhan Bhanushali, a homebuyer, seeking…

- **Court:** NCLT
- **Order date:** 11 Nov 2024
- **Citation:** TCN-2024-NCLT-00278
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/jsm-devcons-india-pvt-ltd-b54867c3

## Summary

### Background

The case involves an application filed by Mr. Arvind Pradhan Bhanushali, a homebuyer, seeking direction to the Resolution Professional (RP) of JSM Devcons Pvt Ltd to accept and admit his claim in totality within the Corporate Insolvency Resolution Process (CIRP). The applicant claims to have purchased 14 flats in the 'Pinnacle D Dreams' project and paid a portion of the total consideration. The RP objected to the claim, stating it was belated as the Resolution Plan had already been approved by the Committee of Creditors (CoC).

## Facts

Mr. Arvind Pradhan Bhanushali, a homebuyer, filed an application seeking the acceptance of his claim in the CIRP of JSM Devcons Pvt Ltd. He claimed to have purchased 14 flats in the 'Pinnacle D Dreams' project, paying Rs. 71,47,000/- out of a total consideration of Rs. 3,25,00,000/-. The applicant stated that he filed his claim in Form CA on 23.02.2024, but the Resolution Plan had already been approved by the CoC in August 2023. The applicant argued he was unaware of the CIRP due to being a resident of Mumbai. The RP contended that the applicant's claim was belated and that public announcements and notices were made to inform claimants. The RP also stated that 10 of the 14 units claimed by the applicant were already claimed by other claimants who had submitted their

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## Issues and analysis

### Issue 1: Whether the applicant's claim, filed after the approval of the Resolution Plan by the CoC, can be …

**Ratio:** Claims cannot be admitted once the Resolution Plan has been approved by the CoC, as held

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**Reasoning:** The court reasoned that allowing belated claims would disrupt the CIRP and lead to an

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**Interpretation:** The Supreme Court's ruling in M/s RPS Infrastructure Ltd. Vs. Mukul Kumar &

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**Application:** In this case, the applicant's claim was filed after the Resolution Plan had

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## Parties

- **Judges:** Chitra Ram…; KAUSHALENDRA…
- **Appellants:** Arvind Pradhan…
- **Respondents:** JSM Devcons Pvt…; Chaya G…

## Timeline

- **2021-01-01 — C.P.(IB)/56(…**: The main matter is…
- **2022-03-17 — CIRP Commen…**: Corporate Debtor admitted into…

## 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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