Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 29/06/2026
Case Overview
This order pertains to an Interlocutory Application (IA) numbered IA/175(MP)2026, filed within the main insolvency proceeding CP(IB)/18(MP)2024. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules. The applicant is Aditya Bhatnagar. The respondents are Teena Saraswat Pandey, in her capacity as the Resolution Professional (RP) for Extol Industries Ltd, and Extol Industries Ltd itself. The bench comprised Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical). Counsels for both parties informed the tribunal that all pleadings in the matter were completed and it was ready for final arguments. However, the hearing was not proceeded with because a separate liquidation application concerning the corporate debtor is also pending before the tribunal.
Final Outcome
The NCLT adjourned the matter. The next date of hearing is scheduled for 17 August 2026. No substantive order was passed on the merits of the application.
Topics: Insolvency Proceeding, NCLT Adjournment