# Consortium of AKB Ventures LLP & Anr. vs. Narender Kumar Sharma & Ors.

> NCLT judgment dated 2026-10-05. Citation: TCN-2026-NCLT-01167. The Applicants filed I.A. No. 4728/2025 under Section 60(5) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Oct 2026
- **Citation:** TCN-2026-NCLT-01167
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/spaze-towers-pvt-ltd-taadv

## Summary

### Background

The Applicants filed I.A. No. 4728/2025 under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The application sought various reliefs, including directions to the Resolution Professional to furnish information and clarifications, deferral of consideration and voting on Resolution Plans by the Committee of Creditors, permission for the Applicants to submit a revised Resolution Plan, and a directive for the CoC to consider it. Additionally, grievances were raised concerning the participation of Suspended Directors, who were also Prospective Resolution Applicants, in CoC meetings.

## Facts

I.A. No. 4728/2025 was filed by the Applicants under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016.

The application sought directions to the Resolution Professional to furnish information, documents, and clarifications sought by the Applicants via emails dated 01.08.2025, 02.08.2025, 01.09.2025, and 06.09.2025.

The Applicants requested that no discussion, consideration, or voting on Resolution Plans of the Corporate Debtor take place until the requested information is furnished.

The application also sought a direction for the Resolution Professional to provide information to enable the Applicant to submit a revised Resolution Plan.

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## Issues and analysis

### Issue 1: Whether the Resolution Professional should be directed to furnish all pending information, …

**Ratio:** The issues and reliefs sought in I.A. No. 4728/2025 have been comprehensively dealt with

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**Reasoning:** The Adjudicating Authority, while considering I.A. No. 5202/2025, addressed the same

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**Interpretation:** When a subsequent application comprehensively addresses and resolves the issues

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**Application:** Since I.A. No. 5202/2025 already covered the subject matter and subsequent

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** Consortium of AKB…; Sustainable…
- **Respondents:** Spaze Towers Pvt.…; NARENDER KUMAR…; +2 more
- **Other parties:** Committee of…; Vivek Khanna &…; +1 more
- **Advocates:** Gurcharan…; Amandeep…; +5 more

## Timeline

- **2025-08-01 — Information…**: Applicant sent an email seeking information and clarifications from the Resolution…
- **2025-08-02 — Information…**: Applicant sent an email seeking information and clarifications from the Resolution…

## 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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