# Consortium of AKB Ventures Private Limited & Anr. vs. Narender Kumar Sharma, RP of Spaze Towers Private Limited

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01120. The Applicants, Consortium of AKB Ventures Private Limited and Sustainable Projects Private…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01120
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/spaze-towers-pvt-ltd-1o6lj

## Summary

### Background

The Applicants, Consortium of AKB Ventures Private Limited and Sustainable Projects Private Limited, filed I.A. No. 2600/2026 and I.A. No. 2344/2026. I.A. No. 2600/2026 sought to amend prayer clauses to incorporate specific case number references. I.A. No. 2344/2026 sought to substitute the name of the consortium from "Consortium of AKB Ventures Private Limited and Sustainable Projects Private Limited" to "Consortium of AKB Ventures LLP and Sustainable Projects Private Limited" in the Memo of Parties of I.A. No. 4728/2025. This change was necessitated by the amalgamation of AKB Ventures Private Limited with Prodigious Estates Private Limited, subsequent name change of Prodigious Estates Private Limited to AKB Ventures Private Limited, and its

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## Facts

Applicants, Consortium of AKB Ventures Private Limited and Sustainable Projects Private Limited, filed I.A. No. 2600/2026 and I.A. No. 2344/2026 under Rule 11 of NCLT Rules, 2016.

I.A. No. 2600/2026 sought to amend prayer clauses to incorporate specific case number references (I.A. No. 4728/2025 in CP(IB) No. 284(PB)/2021).

I.A. No. 2344/2026 sought to substitute the name "Consortium of AKB Ventures Private Limited and Sustainable Projects Private Limited" with "Consortium of AKB Ventures LLP and Sustainable Projects Private Limited" in the Memo of Parties of I.A. No. 4728/2025.

The NCLT, vide order dated 27.05.2026, had previously allowed the applicants to amend the Original Interlocutory Application.

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## Issues and analysis

### Issue 1: Whether the Applicants should be allowed to amend the prayer clause of I.A. No. 2344/2026 to …

**Ratio:** An amendment to a prayer clause that merely incorporates specific case number references,

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**Reasoning:** The Adjudicating Authority had already permitted the applicants to amend the original

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**Interpretation:** Procedural amendments that clarify the record and do not alter the substantive

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**Application:** I.A. No. 2600/2026 is allowed, and the amended prayer clause of I.A. No.

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** Consortium of AKB…; Sustainable…
- **Respondents:** Spaze Towers Pvt.…; NARENDER KUMAR…
- **Other parties:** CoC…; DIVISION BENCH…; +1 more
- **Advocates:** Gurcharan…; Amandeep…; +5 more

## Timeline

- **2025-10-27 — Amalgamation…**: Regional Director (Northern Region) approved the scheme of amalgamation of AKB Ventures…
- **2025-11-27 — Rejoinder…**: Applicant filed a rejoinder in the name of an entity which, according to the Applicant's…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(2) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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