2026 Supreme(Online)(NCLT) 2649

IN THE NATIONAL COMPANY LAW TRIBUNAL

MUMBAI BENCH COURT III

I.A. 20 (Plan) of 2025, I.A. 666/2025, I.A. 798/2025, I.A. 823/2025, I.A. 5120/2025, I.A. 783/2026

In

C.P.(IB)/1150 (MB)/C-III/2022

IA/20 (Plan)/2025

Under Section 30(6) of the Insolvency and Bankruptcy Code, 2016.

Mr. Amit Vijay Karia

Resolution Professional of Nirmal Lifestyle (Mulund) Private Limited

405, Hind Rajasthan Building, D. S. Phalke Road, Dadar East, Mumbai – 400014

… Applicant/ Resolution Professional

Vs.

1. Beacon Trusteeship Limited

Secured Financial Creditor having 60.54% voting share

4C & D, Siddhivinayak Chambers, Gandhi Nagar, Opp. MIC Cricket Club, Bandra East, Mumbai – 400051

2. Assets Care & Reconstruction Enterprise Limited

Unsecured Financial Creditor having 39.46% voting share

2nd Floor, Mohan Dev Building, 13 Tolstoy Marg, New Delhi – 110001

Along with

IA/666/2025

Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016

Satish Singh

803, Manisha Height, BR Road, Vaishali Nagar, Mulund (W), Mumbai – 400080

… Applicant

Vs.

Mr. Amit Vijay Karia

Resolution Professional of Nirmal Lifestyle (Mulund) Private Limited

405, Hind Rajasthan Building, D. S. Phalke Road, Dadar East, Mumbai – 400014

... Respondent

And

IA/798/2025

Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016

1. Sushma Sandip Hiroji

2. Sandip Hiroji

Vasundhara CHSL, A3- Flat No. 510, Lokachana Complex, Amarnagar, Mulund (W), Mumbai - 400082

… Applicants

Vs.

Mr. Amit Vijay Karia

Resolution Professional of Nirmal Lifestyle (Mulund) Private Limited

405, Hind Rajasthan Building, D. S. Phalke Road, Dadar East, Mumbai – 400014

... Respondent

And

IA/823/2025

Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016

1. Anjana Vikram Lavangare

2. Vikram Malhari Lavangare

4/26, Nirmit Bungalow, Sector – 3, Shreenagar, Thane, Mumbai - 4000604

… Applicants

Vs.

Mr. Amit Vijay Karia

Resolution Professional of Nirmal Lifestyle (Mulund) Private Limited

405, Hind Rajasthan Building, D. S. Phalke Road, Dadar East, Mumbai – 400014

... Respondent

And

IA/5120/2025

Under Section 60(5) & 30(2) of the Insolvency and Bankruptcy Code, 2016

1. Dharmesh Sardarmal Jain

2. M/s Nirmal Developers

Jawahar Talkies, Dr. R.P. Road, Mulund (W), Mumbai - 400080

… Applicants

Vs.

1. Mr. Amit Vijay Karia

Resolution Professional of Nirmal Lifestyle (Mulund) Private Limited

405, Hind Rajasthan Building, D. S. Phalke Road, Dadar East, Mumbai – 400014

2. Mantra Properties and Developers Private Limited

3rd Floor, Metropole Building, Bund Garden Rd, next to INOX Bund Garden, Pune, Camp, Pune, Maharashtra 411001

... Respondents

And

IA/783/2026

Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016

1. Subodh Harishchandra Pandit

Flat No.1, Swanand Apartment, Ekata Colony, Near Church, Indira Nagar, Nashik – 422009

2. Sanjay Harishchadra Pandit

3rd floor, Mahavir Arcade, Opp. Ghantali Mandir, Ghantali, Naupada, Thane – 400602

3. Nutan Ravindra Joshi

4th floor, Aashish CHS Ltd., Rambhau Phadke Marg, Sudarshan Colony, Thane (E) – 400603

4. Bhushan Harishchandra Pandit

701/702, Zala Saphire, Opposite Ghantali Mandir, Near IDBI Bank, Above Hotel Metkut, Naupada, Thane (W) - 400602

… Applicants

Vs.

1. Hiralal Ranabhai Prajapati

2. Hiraben Hiralal Prajapati

3. Bhimji Ranabhai Prajapati

4. Hansaben Bhimji Prajapati

5. Nitin Hirlal Prajapati

6. Mayura Nitin Prajapati

7. Pravin HiraJal Prajapati

8. Jayashree Pravin Prajapati

9. Jitendra Hiralal Prajapati

10. Jyotsna Hiralal Prajapati

11. Sanjay Bhimji Prajapati

12. Jyoti Saojay Prajapati

13. Manish Bhimji Prajapati

14. Bharat Bhimji Prajapati

Shree Niwas, Valji Ladha Road, Mulund (W), Mumbai – 400080

15. M/s Nirmal Developers

Jawahar Talkies, Dr. R.P. Road, Mulund (W), Mumbai - 400080

... Respondents

In

C.P./1150/MB/2022

Under section 7 of the Insolvency and Bankruptcy Code

Beacon Trusteeship Limited

… Financial Creditor

Vs

Nirmal Lifestyle (Mulund) Private Limited

Nirmal Lifestyle Head Office, LBS Marg, Mulund West, Mumbai – 400080

[CIN: U74999MH2007PTC177019]

… Corporate Debtor

Order pronounced on: 29.04.2026

Coram:

Ms. Lakshmi Gurung, Member (Judicial)

Sh. Hariharan Neelakanta Iyer, Member (Technical)

Appearances:

For the Resolution Professional : Adv. Ayush J. Rajani a/w Adv. Anurag Mishra. Mr. Amit Karia, RP-in-person

For SRA : Akshay Petkar & Adv. Abhishek Salian

For Applicants (IA/666/2025, IA/798/2025 & IA/823/2025) : Adv. Amir Arsiwala

For Applicant (IA/5170/2025) : Adv. Nausher Kohli a/w Adv Ashok Paranjpe & Adv. Mrunali Lanjewar i/b MDP Associates

Per: Lakshmi Gurung, Member (Judicial)