Lyka Labs vs Modi Lifecare NCLT Adjournment Pending SC Appeal

Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad

Order Date: 30/06/2026

Case Overview

The matter involves proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC) between Lyka Labs Ltd (Applicant/Operational Creditor) and Modi Lifecare Industries Ltd (Respondent/Corporate Debtor). The case reference is CP(IB) 141 of 2018. Both parties appeared through their respective counsel - Mr. Laksh Sharma for the Applicant and Mr. Rahul Rai along with Mr. Ramit Rana for the Respondent.

The Respondent's counsel informed the tribunal that the order dated 19.05.2026 passed by the NCLAT has been challenged before the Supreme Court through a Civil Appeal filed on 08.06.2026. The appeal is expected to be listed after the court reopens. The Applicant's counsel stated that a caveat has already been filed before the Supreme Court and noted that a copy of the Civil Appeal has not yet been served, requesting that if not already served, the Respondent should furnish a copy.

Final Outcome

The NCLT bench consisting of Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical) adjourned the matter awaiting consideration of the appeal by the Supreme Court. The case has been listed for further consideration on 28/07/2026.

Topics: Insolvency Proceedings, Legal Adjournment, Supreme Court Appeal