NCLT Allahabad Bench adjourned an insolvency petition against Magma Industries Limited filed by operational creditor Sanjay Jain and Sons HUF.
The hearing was adjourned to 23rd April 2026 as no counsel appeared for the operational creditor during the proceedings.
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process.
The bench presided by Judicial Member Praveen Gupta and Technical Member Ashish Verma adjourned the matter in the interest of justice.