Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: July 14, 2026
Case Overview
This matter involves an application (IA/289(MP)2026) filed in the main petition CP(IB)/82(MP)2023 under Section 112 read with Section 114 of the Insolvency and Bankruptcy Code. The applicant is Hiten Ratilal Abhani, the Resolution Professional of Vijay Jain, the Personal Guarantor to Indison Agro Foods Ltd. The respondents are Mr. Vijay Jain (Personal Guarantor of Indison Agro Foods Ltd) and Others, including OMKARA ARC. The proceedings concern issues related to the rejection of a repayment plan and non-payment of costs by OMKARA ARC. The affidavit of service of notice upon the respondents was filed in compliance with the previous order dated May 14, 2026.
Final Outcome
The NCLT Bench comprising Member (Technical) Man Mohan Gupta and Member (Judicial) Brajendra Mani Tripathi directed all respondents to file their replies within 10 days, with an advance copy to the applicant. The applicant may then file a rejoinder, if any, within one week after receiving the replies. The matter has been adjourned and listed for the next hearing on August 24, 2026. Respondent Nos. 1-3 were represented by counsel who sought time to file replies, while no one appeared on behalf of Respondent No. 4 (OMKARA ARC).
Topics: NCLT Proceedings, Corporate Insolvency, Personal Guarantor