Citizen Co-Operative Bank filed Section 7 insolvency petition against Abhi Compusoft Private Limited for financial default.
Tribunal directed petitioner to serve notice via email and dasti, giving corporate debtor 7 days to file reply.
NCLT cited Supreme Court precedents requiring natural justice principles and proper notice before admission.
Matter listed for next hearing on June 10, 2026, with potential ex-parte decision if no reply filed.