Authority: National Company Law Tribunal Guwahati Bench
Order Date: 12th June 2026
Case Overview
This proceeding involves a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by IL&FS Financial Services Ltd. (Financial Creditor) against Adhunik Meghalaya Steels Pvt. Ltd. (Corporate Debtor). The case is registered as CP (IB)/2/GB/2024. The hearing on June 12, 2026, was presided over by a bench consisting of Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh. Arguments from the respondent's side were partially heard during this session.
Final Outcome
The Tribunal adjourned the matter to 30th June 2026 for hearing the remaining arguments from the respondent. The adjournment was granted primarily because the learned senior counsel for the respondent, Mr. Dhirendra Nath Sharma, submitted that an important related matter was pending before the Hon'ble High Court, requiring more time to prepare the remaining arguments. The adjournment was also influenced by the upcoming Bench vacation of the Tribunal from 15th June 2026 to 25th June 2026. The order explicitly states that "No further adjournment shall be granted under any circumstances," indicating the Tribunal's intent to proceed with the matter decisively on the next date.
Topics: Corporate Insolvency, NCLT Proceeding, Adjournment