Authority: National Company Law Tribunal, New Delhi Principal Bench

Order Date: 08.07.2026

Case Overview

The National Company Law Tribunal (NCLT) New Delhi Principal Bench heard matters related to the corporate insolvency resolution process of Olive Telecommunication Private Ltd. The petition was originally filed as CP No. 594/2015 by Allegis Services India Pvt. Ltd. against Olive Telecommunication Private Ltd. under Sections 433(e) and 433(f) of the Companies Act, 1956. The matter is now proceeding under the Insolvency and Bankruptcy framework.

Two applications were heard during this proceeding:

1. IA-2985/2026: Filed by the Interim Resolution Professional (IRP) under Regulation 17(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The application sought to place on record a report dated 03.07.2026 that certified the constitution of the Committee of Creditors.

2. CA-168/2026: Filed by the IRP under Regulation 13(2)(d) of the same regulations, seeking to take on record the list of creditors of the Corporate Debtor (Olive Telecommunication Private Ltd.).

The bench comprised Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member Technical). The hearing was conducted in hybrid mode (physical and video conference). Representation included Mr. Ajit Warrier, Mr. Angad Kochhar, Mr. Himanshu Setia, and Mr. Khush Bhachawat appearing for the Operational Creditor, and Mr. Dhruv Goel appearing for the IRP in the applications.

Final Outcome

The Tribunal allowed both applications. The report certifying the constitution of the Committee of Creditors and the list of creditors were taken on record, subject to all just exceptions. The office was directed to maintain these records and present them before the Bench at the time of final disposal of the main insolvency petition. Both applications (IA-2985/2026 and CA-168/2026) were disposed of accordingly, allowing the corporate insolvency resolution process to proceed with the formally constituted Committee of Creditors.

Topics: Insolvency Proceedings, Telecom Sector, NCLT