Claims not filed during the Corporate Insolvency Resolution Process are extinguished after approval of the resolution plan.

O R D E R

1. The present Application, filed dated 16.01.2026, under Section 60 (5) of the Insolvency and Bankruptcy Code 2016 read with Rule 11 of the National Company Law Tribunal Rules 2016, by Khushbu Fonseca and Drishti Fonseca, Homebuyer (the Applicants') against Ms. Chaya Gupta (the 'Respondent No 1) Resolution Professional (RP) of M/s JSM Devcons Private Limited (the Corporate Debtor) and M/s Devvrat Developers Private Limited (‘Successful Resolution Applicant') for seeking directions as given below.

a) Allow the present application;

b) To direct the Respondent no.1 (Resolution Professional) to submit/share the information memorandum with the applicants.

c) To recall the order dt. 05.04.2022 passed by this Hon'ble Tribunal in CP (IB)/56 (MP)/ 2021, in light of the judgments as cited above.

d) To direct the Respondent no.1 (Resolution Professional) and/or Respondent no.2 (SRA) to consider and admit the claim of the applicants and deliver the possession of 2 residential units (Flat no. 1303, tower no. 8, area 1948 sq. ft. and Flat no. 502, tower no. 1, area 1546 sq. ft.) in the project "Pinnacle "D' Dreams".

Or, in the alternative to prayer (iii) and (iv)

e) To direct the Respondent no.1 (Resolution Professional) to submit an addendum information memorandum to the Resolution Applicant and the Successful Resolution Applicant be directed to prepare an addendum to the Resolution Plan to be placed before the updated CoC.

f) To direct the Respondents to refund the amount of Rs. 70,54,280/- alongwith interest from the date of payment till the date of actual realization of the amount, in case the 2 residential units (Flat no. 1303, tower no. 8, area 1948 sq. ft. and Flat no. 502, tower no. 1, area 1546 sq. ft.') in the project "Pinnacle 'D' Dreams" have been allotted/sold to someone else.

g) To pass any other order or direction, which this Hon'ble Tribunal deems fit and proper, in favour of the Applicants

1. The Applicant’s case in brief is:

a) This Adjudicating Authority, vide order dated 17.02.2022 passed in CP (IB) No. 56 of 2021, admitted M/s JSM Devcons Private Limited ("the Corporate Debtor") into the CIRP and appointed Mr. Sanjay Singh as the Interim Resolution Professional (IRP). Further, vide order dated 03.11.2022 passed by this Adjudicating Authority, Mr. Sanjay Singh was replaced, and Ms. Chaya Gupta was appointed as the Resolution Professional (RP).

b) Thereafter, the Adjudicating Authority approved the Resolution Plan submitted by Respondent No. 3, Devvrat Developers Private Limited, by way of its order dated 05.04.2024 passed in IA No. 254 of 2023.

c) The applicants submit that their parents Late Shri Narayan Rajwani and Late Mrs. Ishwari Rajwani had purchased two residential flats bearing Flat No. 1303 Tower No. 8 admeasuring 1948 sq. ft. and Flat No. 502 Tower No. 1 admeasuring 1546 sq. ft. in the project “Pinnacle D Dreams” developed by JSM Devcons Pvt. Ltd. at Indore and had paid the entire sale consideration amounting to Rs. 70,54,280/-. The applicants submit that after receiving the full consideration the Corporate Debtor issued allotment letters dated 01.09.2014 in favour of their parents but the developer failed to execute the sale deed despite repeated requests.

d) The applicants submit that their father had even approached the Collector through a complaint under Jan Sunwai however he passed away on 16.12.2016. The applicants further submit that due to grievances of several homebuyers a writ petition bearing W.P. PIL No. 15443 of 2018 was filed before the Hon’ble High Court of Madhya Pradesh Indore Bench and by interim order dated 12.07.2018 a committee headed by Retired Supreme Court Judge Justice Deepak Verma was constituted to examine the claims of homebuyers. The applicants submit that their mother Late Mrs. Ishwari Rajwani had submitted claims regar