Authority: National Company Law Tribunal, Allahabad Bench, Prayagraj
Order Date: 8th June, 2026
Case Overview
The matter involves an application (IA No.332/2025) in the main insolvency petition CP (IB) No.126/ALD/2024 filed by Indian Bank (Erstwhile Allahabad Bank) against Hira Lal Khatri, who is the personal guarantor of M/S Primuss Metroll Ltd. The proceeding is under Section 95(1) of the Insolvency and Bankruptcy Code (IBC).
During the hearing, counsel for the personal guarantor informed the tribunal that a writ petition concerning issues bearing on the merits of the present matter has been filed before the Hon'ble High Court. This writ petition was previously referenced in the NCLT's order dated 8th May, 2026. The counsel further stated that the High Court matter is scheduled for hearing on 1st July, 2026 and requested an adjournment of the NCLT proceedings to a date beyond this.
Final Outcome
The two-member bench comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma granted the adjournment. The matter has been rescheduled for the next hearing on 6th July, 2026, pending the outcome of the related writ petition before the High Court.
Topics: Insolvency Proceeding, Personal Guarantor, Adjournment