# In the matter of Usashi Realstates Private Limited

> NCLT judgment dated 2025-10-07. Citation: TCN-2025-NCLT-01530. The applicant, Mr. Debjyoti Santra, a homebuyer, filed an Interlocutory Application seeking…

- **Court:** NCLT
- **Order date:** 7 Oct 2025
- **Citation:** TCN-2025-NCLT-01530
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/usashi-realstates-private-limited-e491a544

## Summary

### Background

The applicant, Mr. Debjyoti Santra, a homebuyer, filed an Interlocutory Application seeking condonation of a 663-day delay in submitting his claim. He purchased a flat in the 'Usashi Exotikan Project' of the Corporate Debtor, Usashi Realstates Private Limited, and made substantial payments. Due to his wife's illness and his mother's dementia, he was unaware of the CIRP initiation and missed the claim submission deadline.

## Facts

The applicant, Mr. Debjyoti Santra, is a homebuyer in the 'Usashi Exotikan Project' of Usashi Realstates Private Limited.

The applicant made a substantial payment towards the purchase of a flat in the project.

The applicant's wife suffered from a serious illness, and his mother has dementia, which contributed to the delay in filing the claim.

The Corporate Debtor, Usashi Realstates Private Limited, is undergoing Corporate Insolvency Resolution Process (CIRP).

The Resolution Professional made public announcements regarding the CIRP, but the applicant claims he was unaware of them due to his personal circumstances.

The applicant filed his claim with a delay of 663 days.

The Resolution Professional opposed the condonation of delay, citing CIRP Regulations.

…

## Issues and analysis

### Issue 1: Whether the delay of 663 days in submitting the …

**Ratio:** Rule 11 of NCLT Rules, 2016 empowers the Adjudicating Authority to pass any orders to

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**Reasoning:** The Adjudicating Authority considered the applicant's reasons for the delay, including

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**Interpretation:** The Adjudicating Authority interpreted Rule 11 of NCLT Rules, 2016 to allow for

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**Application:** The Adjudicating Authority applied Rule 11 of NCLT Rules, 2016 to condone the

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## Parties

- **Judges:** Shri. Labh…; Rekha Kantilal…
- **Appellants:** Rajkuma…; Asha…; +1 more
- **Respondents:** Usashi Realstates…; Arun Kumar Gupta,…
- **Other parties:** Arun Kr.…
- **Advocates:** Rishav Ba…; Prasanta…; +3 more

## Timeline

- **2017 — Purchase Ag…**: The Applicant agreed to purchase a flat in the 'Usashi Exotikan Project' of the Corporate…
- **2017 to February, 2023 — Payment P…**: The Applicant made payments…

## 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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