Authority: National Company Law Tribunal, New Delhi Court – IV
Order Date: 10 July 2026
Case Overview
This matter involves an insolvency petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. Citron Strategies Pvt Ltd is the applicant (financial creditor) and Leading Hotels Ltd is the respondent (corporate debtor). The proceeding bears the main case number IB/1053/PB/2020 and includes two interlocutory applications (IA/3558/ND/2025 and IA/4005/ND/2022). The bench comprised Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Shri Atul Chaturvedi. The hearing was conducted in hybrid mode (physical and video conference). Representation included Mr. Sparsh Jain, Advocate for the SRA, and Mr. Sajeve Deora, Advocate for Respondents 5 and 6 in IA No. 4005/2022.
Final Outcome
The Tribunal adjourned the matter to 6 August 2026 specifically citing "paucity of time" as the reason for adjournment. No substantive hearings or rulings on the merits of the insolvency petition occurred during this session.
Topics: Insolvency Proceeding, Adjournment, NCLT