Authority: National Company Law Tribunal, Jaipur Bench (Through web-based video conferencing platform)
Order Date: July 14, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench heard matters related to an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The proceedings involve Alchemist Asset Reconstruction Company Ltd. as the Financial Creditor/Applicant against Jaipur Metals & Electricals Ltd. as the Corporate Debtor/Respondent. The bench comprised Hon'ble Ms. Reeta Kohli (Judicial Member) and Hon'ble Ms. Kavita Bhatnagar (Technical Member).
Representation included Ashu Kansal, Advocate and Arunav Sikdar appearing in person for the Resolution Professional/Applicant, while Anurag Kalavatiya, Advocate and Parul Singhal, Advocate represented the Respondent.
The tribunal addressed IA No. 319/JPR/2026, directing the Registry and Applicant to serve notice upon the Respondents and submit a service report along with copy sent to the Respondent, postal receipt, and track report/acknowledgement before the next hearing date. Upon service, the Respondent was directed to file their reply before the next date of hearing while serving an advance copy to the opposite counsel. The learned counsel for the applicant requested time to place on record the order dated April 12, 2023, in IA 616 of 2022.
Final Outcome
The matter has been adjourned and posted for hearing on July 22, 2026. Both IA No. 319/JPR/2026 and IA (Plan) No. 1/JPR/2026 are scheduled to be taken up on that date. The proceedings remain ongoing without any final determination on the insolvency petition at this stage.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt