Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 9th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard IA No.218/2023 in CP (IB) No.317/ALD/2018. The matter involves Modi Spinning and Weaving Mills Karamchari Union Workers Club versus IDBI Bank Ltd. The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) read with Section 30(1) IBC, indicating matters related to the insolvency resolution process and approval of resolution plans.
During the hearing on June 9, 2026, no counsel appeared for any of the parties involved in the case. The bench consisted of Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma.
Final Outcome
The NCLT adjourned the matter for further hearing on 5th August, 2026, citing "in the interest of justice" as no representatives appeared for the parties. The case remains pending without substantive progress in this hearing.
Topics: Insolvency Proceeding, NCLT Hearing, Case Adjournment