Authority: National Company Law Tribunal Guwahati Bench
Order Date: 29th June 2026
Case Overview
The National Company Law Tribunal (NCLT) Guwahati Bench, comprising Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh, heard matter CP(IB)/21/GB/2026. This is an insolvency petition filed by IDBI Bank Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Ghosh Brothers Auto Sales Private Limited (Corporate Debtor).
During the hearing, counsel for both parties were present. The applicant's counsel (Mr. A. Ganguly for IDBI Bank) submitted that the matter is currently under the process of settlement and there is a likelihood of an amicable settlement between the parties. Based on this submission, the counsel requested additional time for the settlement process to continue.
Final Outcome
The NCLT Bench considered the submission regarding the ongoing settlement process and adjourned the matter. The case has been listed for further consideration on 28th July 2026.
Topics: Insolvency Proceeding, Banking Dispute, Settlement Negotiations