Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi (Justice N. Seshasayee, Member (Judicial) and Barun Mitra, Member (Technical))

Order Date: 08.07.2026

Case Overview

This appeal was filed by Mr. Supriyo Kumar Chaudhuri, the Liquidator of JVL Agro Industries Limited, against an order dated 15.04.2026 from the Adjudicating Authority (National Company Law Tribunal, Allahabad Bench). The Corporate Debtor, JVL Agro Industries Limited, entered liquidation pursuant to an NCLT order dated 19.08.2020. During the liquidation process, substantially all assets have been realized except for a parcel of freehold land admeasuring approximately 25 bighas situated at Kamalpur, Assam.

The Liquidator stated that initial records showed only 10 bighas, but verification of title and revenue documents revealed the full 25 bighas. Despite valuation and advice from the Stakeholders' Consultation Committee, repeated e-auction attempts failed. Prospective purchasers inspected the property but were unwilling to participate due to the absence of proper demarcation, making boundary uncertainty the principal impediment for asset realization.

The Appellant made repeated representations to the Respondent, the Circle Officer of Kamalpur Revenue Circle, Guwahati, requesting demarcation. Left with no option, the Liquidator instituted I.A. No. 807 of 2025 before the NCLT seeking directions for the Respondent to carry out the demarcation. The application faced multiple adjournments. Subsequently, I.A. No. 241 of 2026 was filed seeking urgent listing, which was disposed of on 10.04.2026 with a direction to list I.A. No. 807 of 2025 higher on the board. However, on 15.04.2026, the matter was adjourned to 25.05.2026 due to paucity of time, prompting the present appeal.

The Appellant's counsel clarified that the grievance was limited to seeking a direction for an early hearing of the application requesting demarcation, which is necessary for the completion of the liquidation process.

Final Outcome

The NCLAT, without expressing any opinion on the merits of the controversy, requested the Adjudicating Authority (NCLT Allahabad) to take up I.A. No. 807 of 2025 and dispose of it in accordance with law, as expeditiously as possible and preferably within a period of two months from the date of receipt of a copy of this order. The appeal was thus disposed of with this direction.

Topics: Corporate Insolvency, Liquidation Process, Land Asset Realization