Resolution Plan approval under IBC Section 31 attains finality, binding all stakeholders; no belated claims entertained post-approval, even from homebuyers in possession who failed to file during CIRP, to preserve process sanctity and CoC wisdom.

O R D E R

1. The present Application, filed dated 15.10.2025, under Section 60(5) of the Insolvency and Bankruptcy Code 2016 read with Rule 11 of the National Company Law Tribunal Rules 2016, by Paridhi Sharma, Sankalp Sharma & Sharad Sharma (the Applicants') against Ms. Chaya Gupta (the 'Respondent No 1) Resolution Professional (RP) of M/s JSM Devcons Private Limited (the Corporate Debtor) and against M/s Devvrat Developers Private Limited (the 'Successful Resolution Applicant') for seeking directions as given below.

a) Allow the present application;

b) Quash and Set-aside the eviction notice dated 29.04.2024 issued by the Respondents;

c) Consider the applicant as a member of Committee of Creditors (CoC).

d) Direct the Respondents to treat the Applicant as a bona fide allottee and protected stakeholder under the CIRP of the Corporate Debtor;

e) Declare the possession of the Applicant as lawful and settled, and protect the same from any further interference;

f) That, this Hon'ble Tribunal may kindly be pleased to direct the Respondent No.2 / SRA to execute and register the sale deed/conveyance in favour of the Applicants in respect of Flat No. 602, Premium Tower No.2, Pinnacle D Dreams, Pipliya Kumar, Indore (M.P.), as the entire sale consideration amount has already been paid by the Applicants and their lawful possession continues uninterrupted.

2. 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) The Applicants submit that they had entered into a tripartite agreement with JSM Devcons Pvt. Ltd. and State Bank of India for availing a home loan for the purchase of the subject flat on 31.03.2014 (The copy of the Tripartite Agreement dated 31.03.2014 is annexed as Annexure-A/1). The Applicants submit that they were allotted the subject property i.e. Flat No. 602 in Pinnacle D Dreams vide Letter of Allotment dated 20.03.2014 issued by JSM Devcons Pvt. Ltd. (The copy of the Letter of Allotment for Flat No. 602 dated 20.03.2014 is annexed as Annexure-A/2.)

c) The Applicants submit that pursuant to the said agreement they obtained a home loan of ₹25,00,000/- from State Bank of India, sanctioned on 26.03.2014. It was submitted that the home loan was fully paid and closed on 05.02.2025 before the filing of the present application. (The loan sanction letter and the loan closure certificate issued by the bank are annexed as Annexure-A/3 and Annexure-A/4 respectively.)

d) The Applicants submit that they were handed over physical and peaceful possession of the subject property by the Corporate Debtor vide possession letter dated 15.04.2017 along with the Builder’s No Objection Certificate confirming peaceful possession and full payment. The Applicants submit that since then they have been residing in and exercising undisturbed possession over the flat. (The possession letter and NOC are annexed as Annexure-A/5 and Annexure-A/6.)

e) The Applicants submit that they have never defaulted in any payment obligations and have complied with all the terms and conditions issued by the developer. The Applicants submit that the entire consideration amount, loan payments, and related charges have been duly paid and nothing remains due or pending from their end. The Applicants submit that they have also consistently fulfilled all their financial obligations concerning the said property including timely payment