Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 13 July 2026
Case Overview
The matter involves an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by financial creditor Spring Sales Pvt Ltd against corporate debtor Century 21 Malls Pvt Ltd. The applicant's counsel, Mr. Chiranjeev Saboo, appeared via online mode while the respondent was not represented. The counsel submitted that despite sufficient opportunities granted previously, the respondent had failed to file its reply to the petition. He further confirmed that notice had been duly served upon the respondent and that an affidavit of service had been filed with the tribunal.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri Brajendra Mani Tripathi and Member (Technical) Shri Man Mohan Gupta granted the respondent Century 21 Malls Pvt Ltd a final opportunity of 10 days to file its reply, with an advance copy to be provided to the applicant. Upon receipt of the reply, the applicant Spring Sales Pvt Ltd may file a rejoinder within one week thereafter. The matter has been listed for next hearing on 21 August 2026.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Debtor