Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: July 7, 2026
Case Overview
The matter involves an insolvency petition filed by Daimler Financial Services Pvt. Ltd against Value Infracon India Pvt. Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The case reference is IB-22(PB)/2018. The hearing was conducted in hybrid mode (physical and video conference) before a bench consisting of Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member Technical). Multiple legal representatives appeared for both the applicant and the Successful Resolution Applicant (SRA).
During the proceedings, the counsel for the SRA, Mr. Vikas Tiwari, requested additional time to comply with the tribunal's previous order dated May 20, 2026. The tribunal noted this request and issued a directive prohibiting the parties from creating any third-party rights until the next hearing date.
Final Outcome
The tribunal adjourned the matter to July 22, 2026, for further hearing. All pending interlocutory applications (IAs) and related matters were also listed for the same date. The interim protection against creating third-party rights remains in effect until the next hearing.
Topics: Corporate Insolvency, NCLT Proceedings, Creditor Rights