Authority: National Company Law Tribunal, New Delhi Court-V
Order Date: 08 June 2026
Case Overview
This matter pertains to a petition filed by Alchemist Asset Reconstruction Company Ltd. (Petitioner) against Patel Wood Products Limited (Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The case is registered as IB-555/ND/2024. Several Interlocutory Applications (IAs) are also pending in the matter, numbered IA-328/2026, IA-4719/2025, IA-4960/2025, IA-5270/2025, IA-3634/2025, and IA-1246/2026. The bench comprised Hon'ble Member (Judicial) Shri Manni Sankariah Shanmuga Sundaram and Hon'ble Member (Technical) Ms. Reena Sinha Puri. The hearing was conducted in a hybrid mode (physical and virtual). Representation was noted for the Petitioner, the Respondents, and the Resolution Professional. Notably, the Assistant Commissioner from the Custom House was represented by standing counsel Mr. Avijit Dikshit and advocate Ms. Monika Verma specifically in application IA-1246/2026.
Final Outcome
The Tribunal adjourned the hearing of the main petition and all connected applications. The order states the adjournment was due to a 'paucity of time' on the scheduled hearing date. The matter has been listed next for hearing on 03 August 2026. No substantive orders were passed on the merits of the insolvency petition or the connected applications.
Topics: NCLT, Corporate Insolvency