Authority: National Company Law Tribunal, Kolkata Bench (Court I)
Order Date: 16th June 2026
Case Overview
This matter arises from an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by M/S Shubh Mohini Enterprises Private Limited against Naman Ispat Private Limited (the Corporate Debtor). The specific hearing pertained to an Interlocutory Application numbered IA(I.B.C)/1061(KB)2025. The core issue discussed was the sale of shares of the Corporate Debtor that occurred during its liquidation period. It was submitted by the respondent's counsel that this sale was conducted in violation of the moratorium imposed under the IBC. Consequently, the matter is currently under litigation before a Civil Court, which has granted an order of status quo on the disputed asset. The successful auction purchaser from the liquidation process is actively contesting this challenge in the Civil Court.
Final Outcome
The NCLT Bench, comprising Member (Judicial) Smt. Bidisha Banerjee and Member (Technical) Ms. Rekha Kantilal Shah, adjourned the matter for further consideration on 5th August 2026. The respondent was directed to indicate the fate of the ongoing civil challenge by filing an appropriate affidavit by the next date of hearing. The practical consequence is a pause in the NCLT proceedings pending the outcome of the parallel civil litigation.
Topics: Insolvency, Litigation