Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 13 July 2026
Case Overview
This proceeding concerns an application (IA(Liq.)[Progress Report]/51(MP)2026) filed by Mr. Sanjeev Chaudhary, the Liquidator of Advance Nath Agri Chemicals Pvt Ltd. The application was filed in the main matter of TP 100 of 2019 [CP(IB) 542 of 2018]. It was filed under Section 15(1)(b) of the IBBI (Liquidation Process) Regulations, 2016, read with Rule 11 of the NCLT Rules. The Liquidator sought two primary reliefs from the tribunal: to condone a delay of 315 days in filing the Tenth Progress Report and to officially take on record the said report for the quarter ending 30 June 2025, along with the requisite financial and asset sale documentation as mandated by regulations.
Final Outcome
The bench, comprising Member (Judicial) Shri Brajendra Mani Tripathi and Member (Technical) Shri Man Mohan Gupta, disposed of the application. Referring to a previous order in IA/352(MP)2026, the tribunal condoned the delay of 315 days. Consequently, the Tenth Quarterly Progress Report for the period 1 April 2025 to 30 June 2025 was taken on record. The associated documents, including the Payments and Receipts for the quarter (as per Regulation 15) and the Asset Sale Report (as per Regulation 36 of the IBBI Liquidation Process Regulations, 2016), were also accepted subject to all just exceptions.
Topics: Insolvency Proceedings, NCLT Order