IN THE NATIONAL COMPANY LAW TRIBUNAL

ALLAHABAD BENCH, PRAYAGRAJ

________________________________________________________________ Application under Rule 11 of the NCLT rules, 2016 seeking urgent intervention and admission of the claim of the Applicant herein

Financial Creditor in Class

IN THE MATTER OF:

Mr. Ajit Gyandchand Jain,

Resolution Professional

Mabsoot Buildhomes India Private Limited

[IP Registration No. IBBI/IPA-001/IP-P00368/2017-18/10625]

204, Wall Street-1, Opp Orient Club, Nr. Gujarat College,

Ellis Bridge, Ahmedabad-380 006, Gujarat, India

Email ID: cirp.mbipl@gmail.com

Contact No: 9930127187

...Applicant

VERSUS

Mr. Shailendra Ajmera

Resolution Professional of Supertech ORB Project Private Limited Ernst & Young LLP, 3rd Floor, Worldmark I, Aero city Hospitality,

New Delhi, -110037

Email ID: Shailendra.Ajmera@in.ey.com

...Respondent

IN THE MATTER OF:

Asset Care and Reconstruction Enterprise Ltd.

...Petitioner

VERSUS

Supertech ORB Project Private Limited

...Respondent

CORAM:

1. SH. PRAVEEN GUPTA, HON'BLE MEMBER (JUDICIAL)

2. SH. ASHISH VERMA, HON'BLE MEMBER (TECHNICAL)

Date of Pronouncement of Order: 18.11.2025 COUNSEL APPEARED THROUGH PHYSICAL/VIRTUAL HEARING:

Sh. Divij Kumar with : For Applicant in IA No.699/2025 Sh. Shivang Mukherji, Sh. Gaurav Choudhary, Sh. Dhananjai Rai &

Sh. Varun Tandon, Advs.

Sh. Milan Singh Negi, Adv. : For the SRA Ms. Lashita Dhingra, Adv. : For the Suspended Management Sh. Abhishek Anand with : For RP of the Corporate Debtor Sh. Karan Kohli, as Res. in IA No.699/2025 Ms. Palak Kalra, Sh. Rajat Gupta, Ms. Ridhima Mehrotra, Ms. Vanshika Dhoot & Ms. Vanshika Agrawal, Advs.

ORDER

1. This Application has been filed on 01.10.2025 under Rule

11 of the NCLT Rules, 2016 by Mr. Ajit Gyanchand Jain ("herein after referred to as “Applicant"). The Applicant is Resolution Professional of M/s Mabsoot Buildhomes India Private Limited ("hereinafter referred to as MBIPL"). The Respondent herein, Mr Shailendra Ajmera is Resolution Professional of M/s Supertech ORB Project Limited, the Corporate Debtor against which Corporate Insolvency Resolution Process (hereinafter referred as “CIRP”) is undergoing at present before this tribunal and a Resolution Plan vide I.A. (PLAN) No. 05 of 2025 which at present is under consideration for approval in this Tribunal. This Application seeks the following reliefs: -

i. Allow the present application and for the Applicant to intervene in the present proceedings;

ii. Pass directions operating a stay on the adjudication of I.A. No. 05 of 2025 till the disposal of the present application;

iii. Direct the Respondent to admit the claim of the Applicant herein;

iv. Pass any such other orders as may be deemed fit and proper in the facts and circumstances of the present case.

2. As submitted in the present application, MBIPL is currently undergoing Corporate Insolvency Resolution Process (hereinafter referred as “CIRP") vide order dated 02.05.2023 passed by the Coordinating NCLT Bench of New Delhi.

3. During the course of CIRP, the Applicant sought certain information and documents from the Suspended board of Directors of MBIPL however, no information was shared by the Ex-management of MBIPL regarding the same.

4. Subsequent to starting of CIRP of MBIPL, its transaction audit was conducted by a Transaction Auditor, Ronak Jain & Co, appointed by the Applicant vide letter dated 10.07.2023 and a detailed Transaction Audit Report dated 04.03.2025 was issued wherein the Transaction Auditor identified several transactions of MBIPL which were improper and not in the ordinary course of its business. In the Audit Report, one of the transactions identified by the Transaction Auditor was pertaining to the transfer of an amount of Rs. 10,58,00,000/- to M/s Supertech ORB Project Limited, i.e. the Corporate Debtor herein. A copy of the bank account statement of Union Bank of India confirming transfer of Rs. 10,58,00,000/- by MBIPL to the Corporate Debtor Company on 24.04.2023 and 02.05.2023 has been annexed as Annexure A-3 with the