Case Details

  • Case Name: IL&FS Financial Services Ltd. Vs. Adhunik Meghalaya Steels Pvt. Ltd.
  • Court/Authority: National Company Law Tribunal (NCLT), Guwahati Bench
  • Case Number: CP(IB)/2/GB/2024
  • Date of Hearing: 20th May 2026
  • Under Section: Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC)

Parties Involved

  • Petitioner/Applicant: IL&FS Financial Services Ltd.
  • Represented by: Mr. S. Mitra, Advocate and Ms. K. Sharma, Advocate
  • Respondent: Adhunik Meghalaya Steels Pvt. Ltd.
  • Represented by: Mr. D. N. Sharma, Advocate
  • Tribunal Members: Hon'ble Member (Judicial), Shri Rammurti Kushawaha and Hon'ble Member (Technical), Shri Yogendra Kumar Singh

Order & Proceedings

  • The hearing was conducted on 20th May 2026.
  • Arguments on behalf of the applicant (IL&FS Financial Services Ltd.) were concluded.
  • The learned counsel for the respondent (Adhunik Meghalaya Steels Pvt. Ltd.) sought an adjournment for presenting his arguments. The grounds for the request were that the counsel was engaged in a matter before the Hon'ble Supreme Court of India.
  • The Tribunal granted the request for an adjournment.

Final Ruling & Adjournment

  • The matter has been adjourned to 12th June 2026.
  • On the next date of hearing, the Tribunal will hear the arguments on behalf of the respondents followed by a rebuttal from the applicant's side.
  • The order was signed by both presiding members: Shri Yogendra Kumar Singh (Member (Technical)) and Shri Rammurti Kushawaha (Member (Judicial)).