# M/s Nivedan Fin-Invest Lease Ltd. vs. CA Vineet Aggarwal, Resolution Professional for JBK Developers Pvt. Ltd.

> NCLT judgment dated 2026-09-08. Citation: TCN-2026-NCLT-01154. M/s Nivedan Fin-Invest Lease Ltd. (Applicant), a Non-Banking Financial Company, filed an…

- **Court:** NCLT
- **Order date:** 8 Sept 2026
- **Citation:** TCN-2026-NCLT-01154
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/j-b-k-developers-pvt-ltd-uxke7

## Summary

### Background

M/s Nivedan Fin-Invest Lease Ltd. (Applicant), a Non-Banking Financial Company, filed an Interlocutory Application (IA) against CA Vineet Aggarwal, the Resolution Professional (RP) for JBK Developers Pvt. Ltd. (Corporate Debtor). The Applicant challenged the RP's rejection of its claim as a Financial Creditor, which was primarily based on the claim being delayed and discrepancies in the claimed amount. The Applicant contended that the delay was due to the COVID-19 pandemic and that the RP lacked adjudicatory powers to reject claims.

## Facts

The present Interlocutory Application I.A. 1558/ND/2021 in C.P. (IB) No. 2552/ND/2019 was filed on 30.03.2021.

The application was filed by M/s Nivedan Fin-Invest Lease Limited ("Applicant") against CA Vineet Aggarwal, Resolution Professional for JBK Developers Private Limited ("Corporate Debtor").

The application challenges the rejection of the applicant's claim by the Resolution Professional ("RP").

The Applicant company is a Non-Banking Financial Company ("NBFC").

The Corporate Debtor was developing a project of private residences branded as "GREEN AVENUE".

The Applicant and Corporate Debtor entered into a loan agreement dated 27.03.2015.

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## Issues and analysis

### Issue 1: Whether the delay in filing the claim by M/s Nivedan Fin-Invest Lease Limited before the Resolution …

**Ratio:** Delay in filing claims can be condoned if sufficient cause, such as the COVID-19

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**Reasoning:** The Applicant provided justifiable reasons for the delay, including disruptions due to

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**Interpretation:** The NCLT possesses discretionary power to condone delays in claim submission

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**Application:** The NCLT condoned the delay in this specific case, considering the COVID-19

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** M/s. Nivedan…
- **Respondents:** JBK Developers…; CA Vineet…
- **Other parties:** Committee of…; Shrey G…; +3 more
- **Advocates:** Pankaj Ag…; Shashwat Srivastav…; +2 more

## Timeline

- **2015-03-27 — Loan Agreement and…**: Applicant and Corporate Debtor entered into a loan agreement. Corporate Debtor issued a…
- **2015-03-30 — Security Pr…**: Corporate Debtor mortgaged 42 units in favor of the Applicant as security and issued a…

## 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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