Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 29th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench, comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma, heard CP (IB) No.74/ALD/2026 under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was filed by Bank of India (Financial Creditor) against M/S Sanmati Industries Pvt. Ltd. (Corporate Debtor). Sh. Fahd Iqbal with Sh. Mohd. Kaif, Advocates, appeared for the Financial Creditor. The order represents the initial admission stage of the corporate insolvency resolution process.
Final Outcome
The NCLT issued formal notices to the Corporate Debtor (Sanmati Industries Pvt. Ltd.). The Registry was directed to prepare notices, and the Financial Creditor's counsel was permitted to collect and serve these notices along with the application and supporting documents via email and speed post. The Financial Creditor must file proof of service, including postal receipts and tracking reports, along with an affidavit of service within one week of service or before the next hearing date, whichever is earlier. The Corporate Debtor was granted two weeks from the date of notice receipt to file its reply, with an advance copy to be supplied to the Financial Creditor's counsel. The Financial Creditor may then file a rejoinder within two weeks, with an advance copy to the Corporate Debtor's counsel. Additionally, the Financial Creditor was directed to obtain the Record of Default (RoD) from NeSL (National e-Governance Services Limited) and file it as part of the record. The matter was adjourned for further hearing on 11th August, 2026.
Topics: Corporate Insolvency, Banking NPA, NCLT Proceedings