Case Details
Case Name: Shri Mahavir Agarwal vs. M/s Khetan Apparel Pvt. Ltd.
Court/Authority: National Company Law Tribunal (NCLT), Jaipur Bench
Case Number: CP No. (IB)-258/9/JPR/2019
Interlocutory Application Number: IA No. 589/JPR/2023
Date of Order: May 20, 2026
Relevant Law: Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
Parties Involved
Petitioner/Operational Creditor/Applicant: Shri Mahavir Agarwal
Respondent/Corporate Debtor: M/s Khetan Apparel Pvt. Ltd.
Representation: Prateek Kedawat, Advocate (For the Liquidator)
Bench: Hon'ble Ms. Reeta Kohli (Judicial Member) and Hon'ble Ms. Kavita Bhatnaagar (Technical Member)
Issues / Allegations / Violations
The matter before the tribunal was a procedural hearing for IA No. 589/JPR/2023. The core issue leading to the original insolvency petition (CP) was a default by the corporate debtor, Khetan Apparel Pvt. Ltd., towards the operational creditor, Shri Mahavir Agarwal, which was filed under Section 9 of the IBC, 2016. The company is currently under liquidation.
Final Ruling & Enforcement
The NCLT Jaipur Bench, upon a request made by the counsel for the applicant (the liquidator), adjourned the hearing. The counsel stated that the liquidator is in the process of attempting to assign the Non-Relinquishing Right Asset (NRRA). The tribunal granted the adjournment and posted the matter for the next hearing on June 30, 2026. No other directions or penalties were issued in this order.