Authority: National Company Law Tribunal Chandigarh Bench (Court - II)
Order Date: 16 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chandigarh Bench heard an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor, M/s Crop Chemicals India Limited, filed this petition (CP (IB) No.115/Chd/Chd/2026) to initiate Corporate Insolvency Resolution Process (CIRP) against the corporate debtor, M/s Triveni Chemicals & Industries Limited. The matter came before the bench comprising Hon'ble Member (Judicial) Shri K. Biswal and Hon'ble Member (Technical) Shri K.K Singh. The applicant was represented by Mr. Anand Chhibbar, Senior Advocate, along with a team of advocates. The respondent was represented by Mr. Aalok Jagga and Mr. KV Singhal, among other advocates.
Final Outcome
The Tribunal granted the respondent (corporate debtor) two weeks' time to file their reply to the insolvency application. The respondent must provide a copy of this reply to the opposite counsel in advance. Following this, the applicant (operational creditor) may file a rejoinder within one week, also with an advance copy to the opposite counsel. The matter has been adjourned and listed for further consideration on 12 August 2026. No substantive hearing on the merits of the case occurred during this proceeding.
Topics: Insolvency Proceeding, NCLT Adjournment, Corporate Debtor