Authority: National Company Law Tribunal (NCLT), Mumbai Bench, Court-IV
Order Date: 10 June 2026
Case Overview
This is an interim order in an interlocutory application (IA No. 2373(MB)2026) filed within a main company petition (C.P. (IB)/312(MB)2023). The financial creditor, LIC Housing Finance Ltd, has initiated proceedings against the corporate debtor, Shree Sainath Land & Development (India) Private Limited, under Sections 7 and 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The matter pertains to the admission of the insolvency petition. During the hybrid hearing on 10.06.2026, the applicant was represented by Advocate Koshire Piyush S., but the respondent was not present.
Final Outcome
The NCLT bench, comprising Member (Technical) Shri Anil Raj Chellan and Member (Judicial) Shri K. R. Saji Kumar, directed the registry to issue an urgent notice to the respondent, Shree Sainath Land & Development (India) Private Limited. The notice must clearly intimate the next date of hearing. The tribunal also directed the registry to place the tracking report for the issued notice before the bench on the next date. The matter has been adjourned and is scheduled to be heard next on 22 June 2026.
Topics: Insolvency, Real Estate