Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: June 29, 2026
Case Overview
The matter involves an application (IA/382(MP)2026) filed in the main petition CP(IB)/74(MP)2026. The Applicant is the Resolution Professional (RP), Kuldeep Tank, of M/s. Girdharilal Sugar & Allied Industries Ltd. The Respondent is Canara Bank. The RP filed this application under Section 99 of the Insolvency and Bankruptcy Code, 2016 (IBC). The purpose of the application was to place on record a report prepared by the RP and to recommend the admission of the main application filed under Section 95 of the IBC against the corporate debtor, Girdharilal Sugar & Allied Industries Ltd.
Final Outcome
The hearing was adjourned. The proxy counsel representing the respondent, Canara Bank, requested an adjournment on the grounds that the arguing counsel was engaged in a hearing before the National Company Law Appellate Tribunal (NCLAT). The bench, comprising Member (Technical) Man Mohan Gupta and Member (Judicial) Brajendra Mani Tripathi, granted the request. The matter has been adjourned and is now listed for the next hearing on July 29, 2026. No decision on the admission of the Section 95 application was made in this order.
Topics: Insolvency, NCLT, Banking