IIFL Fund and Vatika Settle NCLT Insolvency Petition

Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench

Order Date: 06 July 2026

Case Overview

This order pertains to an insolvency petition (IB-212(PB)/2026) filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petitioner is IIFL One Value Fund Series B, represented through IIFL Management Services Limited. The respondent is Vatika One India Next Private Limited, the corporate debtor. During the hearing, counsel for the petitioner informed the tribunal that the parties had arrived at a mutual settlement to resolve the dispute. The key term of the settlement requires the respondent to make a final payment by September 2026.

Final Outcome

The NCLT bench, comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member - Technical), acknowledged the settlement and granted the petitioner time to formally place a copy of the settlement deed on record. The matter was adjourned and listed for the next hearing on 09 July 2026.

Topics: Insolvency, Settlement