Authority: National Company Law Tribunal, Allahabad Bench, Prayagraj

Order Date: 08th June, 2026

Case Overview

The National Company Law Tribunal (NCLT) Allahabad Bench heard three Interlocutory Applications (IAs) in the matter of CP (IB) No.92/ALD/2022, which concerns the corporate debtor, M/s Azam Rubber Products Private Limited, under the Insolvency and Bankruptcy Code (IBC).

  • IA No.28/2024: This application was originally filed by the Liquidator, seeking directions for a respondent (likely a debtor of the corporate debtor) to make payments pursuant to an agreement and a ledger. During the hearing, the counsel for the Applicant/Liquidator stated that this application had become infructuous because the Corporate Insolvency Resolution Process (CIRP) had concluded and the company had moved into liquidation.
  • IA No.593/2025: This application was filed by the Liquidator seeking the formal closure of the liquidation process. The basis for the application is that the e-auction of the corporate debtor's assets has been concluded, the entire sale amount has been paid by the Successful Auction Purchaser, and all proceeds have been distributed to the concerned stakeholders and creditors as required by the IBC.
  • IA No.698/2025: This application was filed by the Successful Auction Purchaser. It seeks certain concessions, waivers, and reliefs based on the terms of the sale certificate issued by the Liquidator following the e-auction. The Liquidator filed a supplementary affidavit providing comments on each of the concessions and reliefs sought by the purchaser, which was taken on record by the Tribunal.

Final Outcome

The Tribunal issued the following rulings:

  • IA No.28/2024: The application was dismissed as having become infructuous.
  • IA No.593/2025: The matter was heard and order was reserved. A decision on closing the liquidation process is pending.
  • IA No.698/2025: The matter was heard and order was reserved. A decision on the concessions and reliefs sought by the Successful Auction Purchaser is pending.

The practical consequence is that the liquidation process of Azam Rubber Products Private Limited is awaiting formal closure from the NCLT, pending its reserved orders.

Topics: NCLT Order, Liquidation Process, IBC