Authority: National Company Law Tribunal, New Delhi Court-IV (Special Bench)
Order Date: 15 July 2026
Case Overview
The National Company Law Tribunal (NCLT) heard a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor, ISGEC Heavy Engineering Ltd., had filed an insolvency petition against the corporate debtor, KJS Cement (I) Ltd. The matter was heard by a bench comprising Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Shri Yogendra Kumar Singh through hybrid hearing (physical and video conference).
Final Outcome
Both parties informed the tribunal that the matter had been settled amicably between them. However, the operational creditor had not yet filed a formal application for withdrawal of the petition. The NCLT granted the operational creditor five working days to file the withdrawal application and bring it on the DMS (Document Management System). The case has been listed for the next hearing on 12 August 2026 to monitor the completion of the withdrawal process.
Topics: Insolvency Settlement, NCLT Proceedings