Authority: National Company Law Tribunal Kolkata Bench
Order Date: 29th June 2026
Case Overview
The matter involves a corporate insolvency resolution process under Section 7 of the Insolvency and Bankruptcy Code, 2016. Assets Care & Reconstruction Enterprise Limited is the financial creditor/applicant seeking initiation of insolvency proceedings against corporate debtor Ankit Metal & Power Limited. The hearing was listed before a bench comprising Hon'ble Member (Judicial) Shri Vinay Goel and Hon'ble Member (Technical) Ms. Rekha Kantilal Shah. Multiple legal representatives appeared for various parties: Mr. Ankur Singhi, Mr. Ritoban Sarkar, Ms. Riti Basu, and Ms. Piyali Pan appeared for the Resolution Professional; Mr. Ratnanko Banerji (Sr. Adv.) with Mr. Shounak Mitra, Ms. Urmila Chakraborty, Mr. Aditya Sarkar, and Mr. Aman Khemka appeared for the SRA; Mr. Jishnu Shah (Sr. Adv.) with Mr. Ishaan Shah and Mr. Riyanshu Agarwal appeared for the Suspended Board of Directors; and Mr. Soorjya Ganguli with Ms. Pooja Chakrabarti, Mr. Mohit Dang, and Mr. Soumyajit Saha appeared for ARCE (Assets Care & Reconstruction Enterprise Limited).
Final Outcome
The Regular Bench was not available on 29th June 2026. The matter has been adjourned and listed for consideration before the Regular Bench on 30th June 2026. No substantive orders were passed regarding the insolvency application.
Topics: Corporate Insolvency, NCLT Proceedings, Debt Resolution