Authority: National Company Law Tribunal Allahabad Bench Prayagraj, Division Bench comprising Sh. Praveen Gupta (Member Judicial) and Sh. Ashish Verma (Member Technical)
Order Date: 16th July, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard CP (IB) No.60/ALD/2026, an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) by financial creditor J.P. Lawania & Ors. against corporate debtor Megma RFID & Labels Pvt. Ltd. The tribunal had previously issued notice to the corporate debtor on 25th May 2026, granting time to file a reply. As of the hearing on 16th July 2026, approximately seven weeks after the notice issuance, the corporate debtor had failed to file its reply despite the granted time period.
Final Outcome
The tribunal granted a final opportunity to the corporate debtor to file its reply, mandating that it must be done positively within three days from the order date (by 19th July 2026). The corporate debtor was directed to supply an advance copy of the reply to the financial creditor. The matter was adjourned for next hearing on 22nd July 2026 and directed to come up higher on the Board.
Topics: Insolvency Proceedings, Corporate Debtor Default, NCLT Hearing