Daimler Financial Services Pvt Ltd initiated proceedings against JSM Devcons India Pvt Ltd under Section 7 of the IBC. Several applications were filed by Home Buyers/Plot owners who registered before the CIRP, claiming their plots should not be considered assets of the Corporate Debtor as per Section 18 of the IBC. The Resolution Professional (RP) was summoned due to the prolonged pendency of the matters and pending applications for his removal. The court directed counsels to provide details of the debt, agreement, and amount paid to the Corporate Debtor undergoing CIRP. The court issued a notice to the RP through IBBI to ensure his presence.

Daimler Financial Services Pvt Ltd initiated proceedings against JSM Devcons India Pvt Ltd under Section 7 of the IBC. Several applications were filed by Home Buyers/Plot owners who registered before the CIRP, claiming their plots should not be considered assets of the Corporate Debtor as per Section 18 of the IBC. The Resolution Professional (RP) was summoned due to the prolonged pendency of the matters and pending applications for his removal. The court directed counsels to provide details of the debt, agreement, and amount paid to the Corporate Debtor undergoing CIRP. The court issued a notice to the RP through IBBI to ensure his presence.