Authority: National Company Law Tribunal (NCLT), Jaipur Bench
Order Date: June 17, 2026
Case Overview
This order pertains to two Interlocutory Applications (IA No. 228/JPR/2026 and IA No. 92/JPR/2026) filed in the main insolvency petition CP No. (IB)-65/9/JPR/2024. The petition was initiated under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 by the Operational Creditor, M/s Mahakaleshwar Mines & Metal Pvt. Ltd., against the Corporate Debtor, M/s Kamal Sponge Steel & Power Ltd.
The bench, comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar, heard arguments from legal counsel for both parties. For IA No. 92/JPR/2026, the counsel for the applicant (Operational Creditor) informed the tribunal that certain information had been furnished by the Suspended Management of the Corporate Debtor the previous evening. They requested time to review this information. For IA No. 228/JPR/2026, the counsel for the applicant also prayed for an adjournment.
Final Outcome
The NCLT bench granted the requests for adjournment. Both interlocutory applications have been posted for the next hearing on June 29, 2026. No substantive decisions on the merits of the insolvency petition were made in this order.
Topics: Insolvency Proceeding, NCLT, Corporate Debtor