# Punjab & Sind Bank vs. M/s Alpine Realtech Private Limited

> NCLT judgment dated 17 Apr 2026. Citation: TCN-2026-NCLT-00446. The Corporate Insolvency Resolution Process (CIRP) for M/s Alpine Realtech Private Limited was…

- **Court:** NCLT
- **Order date:** 17 Apr 2026
- **Citation:** TCN-2026-NCLT-00446
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/punjab-sind-bank-vs-ms-alpine-realtech-private-limited-r7cbr

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) for M/s Alpine Realtech Private Limited was initiated by Punjab & Sind Bank under Section 7 of the IBC, 2016, on March 12, 2019. Ms. Anju Agarwal was appointed as the Interim Resolution Professional (IRP). Multiple attempts to solicit resolution plans were made, and the CIRP period was extended several times. Initially, resolution plans were either not found viable or did not receive sufficient CoC approval. Subsequently, the CoC resolved for liquidation under Section 33, but an NCLAT order directed re-voting on the highest resolution plan. Savfab Developers Private Limited submitted a resolution plan, which, after several addendums and revisions, garnered a 99.84% approval from the Committee of Creditors (CoC).

…

## Facts

CP(IB)-1221/ND/2018 was initiated by Punjab & Sind Bank against M/s Alpine Realtech Private Limited under Section 7 of IBC, 2016.

Corporate Insolvency Resolution Process (CIRP) was admitted on March 12, 2019, and Ms. Anju Agarwal was appointed as IRP.

Public announcements for claims were made on March 17, 2019, with a deadline of March 28, 2019.

In the 1st CoC meeting on April 15, 2019, Anju Agarwal continued as RP due to insufficient votes for formal appointment.

Sapient Services Private Limited and Tech Mech International Private Limited were appointed as Registered Valuers.

Mr. Pramod Kumar Gupta was appointed as Authorized Representative for Homebuyers on May 21, 2019.

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Savfab Developers Private Limited is compliant with the …

**Ratio:** Sections 30(2) and 31(1) of the Insolvency and Bankruptcy Code, 2016. Regulation 38(3) of

…

**Reasoning:** The CoC approved the plan with a 99.84% voting share, indicating its commercial wisdom.

…

**Interpretation:** The Adjudicating Authority's jurisdiction is limited to verifying compliance

…

**Application:** The Resolution Plan, as submitted by Savfab Developers Private Limited with its

…

## Parties

- **Judges:** Sh. Ashok Kumar…; RAVINDRA CHATURVED…
- **Appellants:** PUNJAB AND SIND…; Anju Ag…; +2 more
- **Respondents:** M/s Alpine…; Pramod…; +2 more
- **Other parties:** Corporate…; Resolution Plan…; +15 more

## Timeline

- **2019-03-12 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) for M/s Alpine Realtech Private Limited…
- **2019-03-17 — Public Announcement for…**: The Interim Resolution Professional (IRP) made a public announcement in Form A, inviting…

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/punjab-sind-bank-vs-ms-alpine-realtech-private-limited-r7cbr