The Applicants, Sabar Singh Prabhakar and Rita Suryavanshi, who are homebuyers/allottees of a unit in the 'Pinnacle D Dreams' project developed by the Corporate Debtor, M/s JSM Devcons Private Limited, filed an application under Section 60(5) of the IBC. They claim to have paid 100% of the consideration for their unit but were unaware of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor on 17.03.2022, and the subsequent approval of the Resolution Plan on 05.04.2024. They became aware only recently upon visiting the project site. They had previously submitted claims before an Investigation Committee constituted by the Hon'ble High Court of Madhya Pradesh due to alleged irregularities by the Corporate Debtor's promoters/directors.
…Applicants Sabar Singh Prabhakar and Rita Suryavanshi are homebuyers/allottees of Unit No. 407, Premium Tower 1, in the project “Pinnacle 'D' Dreams” developed by the Corporate Debtor, M/s JSM Devcons Private Limited.
The Applicants purchased the Unit for a total sale consideration of Rs. 18,30,900/- and have paid 100% of the said consideration.
The Applicants reside at Gwalior and Bhopal (M.P.) respectively, away from Indore.
The Applicants were neither informed nor made aware of the initiation of CIRP against the Corporate Debtor and became aware of the CIRP and the approved Resolution Plan only recently, upon visiting the project site.
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Corporate Insolvency…
Mr. Sanjay Kumar Singh, as Interim…
The Applicants, Sabar Singh Prabhakar and Rita Suryavanshi, who are homebuyers/allottees of a unit in the 'Pinnacle D Dreams' project developed by the Corporate Debtor, M/s JSM Devcons Private Limited, filed an application under Section 60(5) of the IBC. They claim to have paid 100% of the consideration for their unit but were unaware of the Corporate Insolvency Resolution Process (CIRP) initiated against the Corporate Debtor on 17.03.2022, and the subsequent approval of the Resolution Plan on 05.04.2024. They became aware only recently upon visiting the project site. They had previously submitted claims before an Investigation Committee constituted by the Hon'ble High Court of Madhya Pradesh due to alleged irregularities by the Corporate Debtor's promoters/directors.
…Applicants Sabar Singh Prabhakar and Rita Suryavanshi are homebuyers/allottees of Unit No. 407, Premium Tower 1, in the project “Pinnacle 'D' Dreams” developed by the Corporate Debtor, M/s JSM Devcons Private Limited.
The Applicants purchased the Unit for a total sale consideration of Rs. 18,30,900/- and have paid 100% of the said consideration.
The Applicants reside at Gwalior and Bhopal (M.P.) respectively, away from Indore.
The Applicants were neither informed nor made aware of the initiation of CIRP against the Corporate Debtor and became aware of the CIRP and the approved Resolution Plan only recently, upon visiting the project site.
…Corporate Insolvency…
Mr. Sanjay Kumar Singh, as Interim…