Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: 10 June 2026
Case Overview
The matter pertains to an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant/petitioner is M/s. Seth Thakurdas Khinvraj Rathi, and the respondent is M/s. Cals Refineries Ltd. The case was heard by a bench comprising Hon'ble Member (Judicial) Sh. Ashok Kumar Bhardwaj and Hon'ble Member (Technical) Sh. Atul Chaturvedi. Legal representation was present for all parties: Adv. Amit Aggarwal for the applicant, and Adv. Abhishek Anand along with Adv. Vagisha Tripathi for the liquidator. The hearing was conducted through a hybrid mode (VC and Physical).
Final Outcome
The bench did not pass any substantive order on the merits of the case. The order simply states "No time left" and directs the matter to be listed next on 27 July 2026. The outcome is a procedural adjournment without any decision on the admission or dismissal of the insolvency petition.
Topics: Insolvency Proceeding, NCLT Hearing, Adjournment