Registered sale deed presumes valid title transfer upon full payment; RP must verify claims timely and handover possession of third-party assets post-verification, subject to prior secured creditor mortgage rights.

NATIONAL COMPANY LAW TRIBUNAL COURT NO. 1 ITEM No.202 IA/251(MP)2024 TP 230 of 2019 [CP(IB) 192 of 2017]

Order under Section 60(5) r.w. Rule 11 IN THE MATTER OF:

........Applicant Neha Jain V/s ........Respondent Chhaya Gupta, RP of JSM Devcons India Pvt Ltd Coram:

Hon’ble Shri Brajendra Mani Tripathi, Member (J)

Hon’ble Shri Man Mohan Gupta Member (T)

ORDER Delivered on 13/01/2026 The case is fixed for pronouncement of the order. The order is pronounced in open Court vide separate sheet.

Sd/- Sd/-

MAN MOHAN GUPTA BRAJENDRA MANI TRIPATHI MEMBER (TECHNICAL) MEMBER (JUDICIAL)

Neeraj

[CP (IB) No. 192 (MP) of 2017]

Date of Order: 13.01.2026 IN THE NATIONAL COMPANY LAW TRIBUNAL INDORE BENCH IA No. 251 of 2024 in TP No. 230 of 2019 [CP (IB) No. 192 (MP) of 2017]

(An Application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016.)

IN THE MATTER OF:

Mrs. Neha Jain W/o Shri Ankush Jain Address: 85, Gumasta Nagar, Indore, M.P.

........Applicant V/s Mrs. Chhaya Gupta RP of JSM Devcons India Private Limited Address: 1, Bima Nagar, 202, Almas Dreams Apartment, Indore, M.P. 452018.

........Respondent Order pronounced on: 13.01.2026 IN THE MAIN MATTER OF:

Daimler Financial Services Pvt. Ltd. …Financial Creditor VS JSM Devcons India Pvt. Ltd. …Corporate Debtor [CP (IB) No. 192 (MP) of 2017]

Date of Order: 13.01.2026 Coram:

Mr. Brajendra Mani Tripathi, Hon’ble Member (J)

Mr. Man Mohan Gupta, Hon’ble Member (T)

Appearance:

For the Applicant : Ms. Teena Saraswat Pandey, PCA For the Respondent : Mrs. Chhaya Gupta, RP

O R D E R

1. The present Application, filed on 16.05.2024, under Section 60(5) of the Insolvency and Bankruptcy Code 2016 (the ‘IBC, 2016’) read with Rule 11 of the National Company Law Tribunal Rules 2016 (the ‘Rules, 2016’), by Mrs. Neha Jain (the ‘Applicant’), against Mrs. Chhaya Gupta (the ‘Respondent’) Resolution Professional (RP) of M/s JSM Devcons India Private Limited (the ‘Corporate Debtor’), for seeking directions as given below:

a) To direct the Respondent/RP that the plot legally owned by the Third Party be excluded from the assets/ Information Memorandum of the CD. The details of plot are below:

details of plot are below:

details of plot are below:

details of plot are below:

details of plot are below:

b) To direct the Respondent/RP to accept and admit the claim of the [CP (IB) No. 192 (MP) of 2017]

Date of Order: 13.01.2026 Applicant in totality.

c) To direct the Respondent/RP to handover the possession of the plot owned by the Applicant in view of Sec 18 (f) of IBC 2016, being third party property is not part of the assets of the CD.

d) Pass any further order(s) as this Tribunal deem fit and proper.

2. This Adjudicating Authority, vide order dated 12.04.2019 passed in TP No.

230 of 2019 [CP (IB) No. 192 of 2017], admitted M/s JSM Devcons India Private Limited (“the Corporate Debtor”) into the CIRP and appointed Mr. Vineet Agrawal as the Interim Resolution Professional (IRP). Further, vide order dated 06.07.2023 passed by this Adjudicating Authority, Mr. Vineet Agrawal was replaced, and Ms. Chaya Gupta was appointed as the Resolution Professional (RP).

3. The Applicant case in brief is:

a) The App