Authority: National Company Law Tribunal Guwahati Bench
Order Date: 29th June 2026
Case Overview
The National Company Law Tribunal (NCLT) Guwahati Bench, comprising Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh, heard Corporate Petition No. CP(IB)/41/GB/2025. The petition was filed by IDBI Bank Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s Ghosh Brothers Motors Private Limited. Both parties were represented by their advocates through video conferencing/physical appearance.
During the hearing, the learned counsel for the applicant (IDBI Bank) submitted that the matter is currently under the process of settlement between the parties. He indicated that there is a likelihood of an amicable settlement being reached and accordingly sought additional time to complete this process.
Final Outcome
The NCLT Bench considered the submission regarding the ongoing settlement process and adjourned the matter. The case has been listed for the next hearing on 28th July 2026 for further consideration of the settlement progress.
Topics: Insolvency Proceedings, Bank Debt, Settlement Negotiations