Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: 10 June 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi Bench heard multiple interconnected applications (IA-4848/ND/2023, IA-4211/ND/2022, IA-4212/ND/2022, IA-6387/ND/2023) in the main matter IB-1650/ND/2018. The case involves Corporation Bank as the applicant/petitioner seeking initiation of corporate insolvency resolution process against M/s. Exclusive Fibers Ltd under Section 7 of the Insolvency and Bankruptcy Code, 2016. The hearing was conducted through hybrid mode (virtual conference and physical appearance). Legal representatives including Adv R K Gupta and Adv Ms Swaralipi Deb Roy appeared for the liquidator, while Shri Akash Shinghal (the liquidator) appeared in person.
Final Outcome
The bench comprising Hon'ble Member (Judicial) Ashok Kumar Bhardwaj and Hon'ble Member (Technical) Atul Chaturvedi noted that it was already 1:00 PM with no time left for proceedings. The matter was consequently adjourned and listed for the next hearing on 27 July 2026. No substantive orders were passed regarding the merits of the insolvency application during this hearing.
Topics: Corporate Insolvency, Legal Proceedings