Authority: National Company Law Tribunal, Court-V, Mumbai Bench
Order Date: 09.06.2026
Case Overview
The National Company Law Tribunal (NCLT) Mumbai Bench heard three interconnected applications in the ongoing corporate insolvency resolution process (CIRP) of Maharashtra Theatres Private Limited, initiated by Axis Bank Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016.
- IA/408/2026: Filed by the Resolution Professional (RP) seeking exclusion of 35 days from the CIRP period. The RP's counsel indicated that a prior application for exclusion of the period is pending and scheduled for consideration on 07.07.2026.
- IA/4143/2025: Also filed by the RP, which was voluntarily withdrawn during the proceedings upon instructions. The counsel sought to withdraw this application.
- CONT.A./53/2025: A contempt application filed by the RP against the District Collector Through Tehsildar. The respondent's counsel, Adv. Sindas Ansari appearing for Adv. Amar Mishra, sought accommodation citing that Adv. Amar Mishra was engaged before the Hon'ble High Court.
Final Outcome
The NCLT Bench comprising Members Ashish Kalia (Judicial) and Charanjeet Singh Gulati (Technical) issued the following directions:
- IA/408/2026: Adjourned to 07.07.2026 for further consideration alongside the pending exclusion application
- IA/4143/2025: Dismissed as withdrawn based on the RP's request
- CONT.A./53/2025: Adjourned to 13.07.2026 with a strict warning that this was the "last time" accommodation would be granted. The tribunal explicitly stated that if on the next date the respondent or counsel is absent or seeks another adjournment, it will be presumed they are not interested in making submissions and the matter will proceed accordingly.
The proceedings involved appearances through physical/hybrid mode with Adv. Ayush Rajani along with Adv. Mitali Bhatt representing the Applicant/RP (AKR Legal), and Adv. Sindas Ansari representing the respondent.
Topics: Insolvency Proceedings, NCLT Adjournments, Contempt Application