Authority: National Company Law Tribunal Allahabad Bench, Prayagraj
Order Date: 7th July, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench, comprising Hon'ble Member (Judicial) Shri Praveen Gupta and Hon'ble Member (Technical) Shri Ashish Verma, heard matters in CP (IB) No.123/ALD/2024. This is a corporate insolvency proceeding filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), with ICICI Bank Limited as the Financial Creditor and M/s Ossify Industries Private Limited as the Corporate Debtor.
During the hearing on July 7, 2026, both parties were represented by their respective counsel. Sh. Sanjeev Singh, Advocate, appeared for the Financial Creditor (ICICI Bank Limited), while Sh. Anjaneya Mishra, Advocate, appeared for the Corporate Debtor (Ossify Industries Private Limited). The counsel for the Corporate Debtor made submissions during the hearing.
Final Outcome
The NCLT Bench adjourned the matter to July 8, 2026, to allow the counsel for the applicant (Financial Creditor) to re-join arguments. The matter is scheduled to come up higher on the Board on the next hearing date. No final decision on the insolvency petition was made in this order.
Topics: Insolvency Proceeding, Banking Dispute, NCLT Hearing