Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 12th June, 2026
Case Overview
This is an order from a hearing in IA No.280/2026, which is part of the main insolvency petition CP (IB) No.46/ALD/2023. The petition was filed by Ayodhya Finlease Limited against SRGP Corporation Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), initiating Corporate Insolvency Resolution Process (CIRP). The hearing was attended by counsel for the applicant (Ayodhya Finlease) and counsel for the Resolution Professional (RP).
During the hearing, the counsel for the RP, Sh. Vinod Chaurasia, stated that the claim of the applicant (Ayodhya Finlease) had already been collated. Furthermore, the updated information regarding this claim had been uploaded to the IBBI (Insolvency and Bankruptcy Board of India) portal. Faced with this information, the counsel for the applicant, Sh. Sanjeev Panda, sought time to take instructions from his client regarding this update. An additional procedural matter was noted concerning the RP's vakalatnama (a legal document authorizing a lawyer to represent a client), which was stated to have been filed but required clarification or verification by the next hearing date.
Final Outcome
The bench, comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma, adjourned the matter. The next hearing is scheduled for the 30th of June, 2026, and it is to be placed higher on the board (priority list) for that date. No substantive rulings on the claim or the admission of the petition were made in this order; it is purely a procedural adjournment.
Topics: Insolvency Proceeding, Legal Hearing