# Sabar Singh Prabhakar & Anr V/s Chaya Gupta & Ors

> NCLT judgment dated 2026-07-13. Citation: TCN-2026-NCLT-00671. The Applicants, Sabar Singh Prabhakar and Rita Suryavanshi, who are homebuyers/allottees of a…

- **Court:** NCLT
- **Order date:** 13 Jul 2026
- **Citation:** TCN-2026-NCLT-00671
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/sabar-singh-prabhakar-anr-vs-chaya-gupta-ors-pkn2v

## Summary

### Background

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.

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## Facts

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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## Issues and analysis

### Issue 1: Whether the present application, seeking to recall the order approving the Resolution Plan and …

**Ratio:** An application seeking to reopen a concluded insolvency process and admit belated claims

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**Reasoning:** The Adjudicating Authority noted that the Resolution Plan was approved on 05.04.2024,

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**Interpretation:** The IBC framework emphasizes finality and certainty in the resolution process.

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**Application:** The Applicants' attempt to revive their claim post-approval of the plan is

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## Parties

- **Judges:** Brajendra Mani…; Man Mohan Gupta,…
- **Appellants:** Sabar Singh…; Rita Surya…
- **Respondents:** JSM Devcons…; Chayya…; +2 more
- **Other parties:** Committee of…; Anupam…; +2 more
- **Advocates:** Shantnu Cho…; Keshav Khan…

## Timeline

- **2022-03-17 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP)…
- **2022-03-31 — Public Announcement by…**: Mr. Sanjay Kumar Singh, as Interim Resolution Professional (IRP), made a public…

## 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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