# Nimble Credit Cooperative Society Limited vs. Bulland Realtors Private Limited

> NCLT judgment dated 2026-08-11. Citation: TCN-2026-NCLT-00878. Nimble Credit Cooperative Society Limited (Financial Creditor) initiated CIRP against Bulland…

- **Court:** NCLT
- **Order date:** 11 Aug 2026
- **Citation:** TCN-2026-NCLT-00878
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/nimble-credit-cooperative-society-limited-vs-bulland-realtors-private-limited-pkj3x

## Summary

### Background

Nimble Credit Cooperative Society Limited (Financial Creditor) initiated CIRP against Bulland Realtors Private Limited (Corporate Debtor) under Section 7 of IBC, 2016. Mr. Ashish Singh was appointed IRP/RP. A Resolution Plan submitted by Saviour Builders Private Limited (SRA) was approved by the Committee of Creditors (CoC) with 99.02% voting share. Several Interlocutory Applications (IAs) were filed, including by the RP for plan approval, by Greater Noida Industrial Development Authority (GNIDA) challenging the plan, by Radhey Krishna Technobuild Private Limited (unsuccessful resolution applicant) challenging the CoC's decision, and by Mr. Sheesh Pal (assignee of a former director/shareholder) challenging the rejection of his claim as a financial creditor (homebuyer).

## Facts

Nimble Credit Cooperative Society Limited (Financial Creditor) initiated CIRP against Bulland Realtors Private Limited (Corporate Debtor) under Section 7 of IBC, 2016.

The Corporate Debtor was admitted to CIRP on 31.07.2023, and Mr. Ashish Singh was appointed as IRP, then RP on 09.10.2023.

A public announcement inviting claims was made on 11.08.2023, and the Committee of Creditors (CoC) was constituted on 11.09.2023, comprising Financial Creditors in Class-Homebuyers (81.48%) and Nimble Credit Cooperative Society Limited (Unsecured FC - 18.52%).

Saviour Builders Private Limited (SRA) submitted a Resolution Plan dated 11.01.2024 with an Addendum dated 12.02.2024, which was approved by the CoC with 99.02% voting share on 28.03.2024.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan dated 11.01.2024 along with its Addendum dated 12.02.2024 and …

**Ratio:** The Adjudicating Authority's jurisdiction under Section 31(1) of the IBC, 2016, is

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**Reasoning:** The Resolution Plan, along with its addenda, was approved by the CoC with a significant

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**Interpretation:** The NCLT's role is not to delve into the commercial viability or fairness of

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**Application:** Since the Resolution Plan and its addenda meet all statutory requirements under

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## Parties

- **Judges:** Sh. Ashok Kumar…; ATUL CHAT…
- **Appellants:** Nimble Credit…; Sheesh…; +3 more
- **Respondents:** Bulland Realtors…; M/s Saviour…
- **Other parties:** AR of Financial…; Nimble Credit…; +8 more
- **Advocates:** Shravan Chandrashe…; Sumant…; +2 more

## Timeline

- **2023-01-31 — Lease Deed Can…**: Greater Noida Industrial Development Authority (GNIDA) cancelled the lease deed executed…
- **2023-07-31 — CIRP Commen…**: The Corporate Debtor, Bulland Realtors Private Limited, was admitted to Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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