Authority: National Company Law Tribunal, New Delhi Court - IV (Special Bench)
Order Date: 13 July 2026
Case Overview
The matter involves an insolvency petition filed by Arya Solar Pvt. Ltd. (Financial Creditor) against Pagaria Energy Ltd. (Corporate Debtor) under Section 7 of the Insolvency & Bankruptcy Code, 2016. The Adjudicating Authority had previously granted the Corporate Debtor a three-day extension to file its reply via order dated 20 March 2026. However, as of the current hearing date (13 July 2026), no reply had been properly brought on record by Pagaria Energy Ltd. While the Corporate Debtor claimed to have filed a reply on 17 April 2026, it failed to cure the defects in that filing by the current hearing date.
Final Outcome
The Tribunal formally closed the Corporate Debtor's right to file a reply in the matter. The case has been listed for next consideration on 23 July 2026.
Topics: Insolvency Proceedings, Corporate Debtor Default, NCLT Procedure