Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 08/06/2026
Case Overview
This proceeding concerns an Interlocutory Application (IA 43 of 2020) filed within the main insolvency process (TP 230 of 2019, which originated from CP(IB) 192 of 2017). The application was filed by Satyanarayan Agarwal & Ors (the Applicants) against JSM Devcons India Pvt Ltd, represented by its Resolution Professional, Vineet Agarwal (the Respondent). The specific nature of the application is for directions under Section IA of the Insolvency and Bankruptcy Code, 2016. During the hearing, the learned counsel for the Applicants advanced their arguments. The Respondent, the Resolution Professional (Mrs. Chhaya Gupta, appearing in person), informed the bench that similar matters had previously been decided by this same bench and that appeals against those orders are currently pending before the National Company Law Appellate Tribunal (NCLAT).
Final Outcome
The bench, comprising Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical), allowed the Resolution Professional's prayer for an adjournment. The matter has been listed for further arguments on 3rd August 2026.
Topics: Insolvency Proceeding, NCLT Directions, Adjournment