Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: 30 June 2026
Case Overview
The hearing concerned an application (IA(IBC)/1015(CHE)/2026) filed by IVP Ltd. (Operational Creditor) seeking revival of the main insolvency petition CP(IB)/219/CHE/2025 against Indo Shell Mould Ltd. (Corporate Debtor). This main petition had been previously disposed of via order dated 15 April 2026. During the hearing, the counsel for the operational creditor reported a new development in the case - the corporate debtor had issued post-dated cheques to settle the debt. However, these cheques had not yet been realized (cleared) at the time of the hearing. Based on this development, the operational creditor's counsel requested an adjournment.
Final Outcome
The NCLT bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam, granted the request for adjournment. The application has been listed for the next hearing on 03 September 2026 for further consideration.
Topics: Insolvency Proceeding, Legal Adjournment