Case Details
Case Name: Punjab National Bank V/S M/S Jay Ambey Rice Mills Ltd.
Court/Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Case Number: CP (IB) No.25/ALD/2025
Interlocutory Application Number: IA No.324/2026
Date of Order: 26th May, 2026
Under Section: 7 of the Insolvency and Bankruptcy Code (IBC)
Status: Corporate Insolvency Resolution Process (CIRP)
Parties Involved
Petitioner/Financial Creditor: Punjab National Bank
Corporate Debtor: Jay Ambey Rice Mills Ltd.
Resolution Professional (RP): Ms. Babita Jain (present in person)
Counsel for Applicant/RP: Sh. Nilotpal Shyam, Advocate
Bench: Ms. Reeta Kohli (Hon'ble Member - Judicial) and Shri Ashish Verma (Hon'ble Member - Technical)
Issues / Allegations / Violations
The data provided is a procedural order from the NCLT and does not contain details of the specific allegations or violations that led to the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC.
Findings & Observations
The order is procedural and does not contain any legal findings, observations, or determinations of liability.
Penalties / Settlements / Directions
No penalties, settlements, or substantive directions were issued in this specific order. The Tribunal issued procedural directions:
- The 4th Progress Report filed by the Resolution Professional for the month of April 2026 was taken on record.
- Interlocutory Application No.324/2026 was disposed of as a result.
Corrective Actions & Future Obligations
The order does not specify any new corrective actions or future obligations. The CIRP is ongoing, and the Resolution Professional is required to continue managing the process and filing progress reports as required.
Final Ruling & Enforcement
Final Ruling: The matter was adjourned for further hearing before the Regular Bench on 09th June 2026, which was a date already fixed in the matter.
Enforcement: The order is procedural and does not contain any new enforcement actions.