Case Details
Case Name: National Asset Reconstruction Company Limited vs Jaiprakash Power Ventures Limited
Court/Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Case Number: CP (IB) No.33/ALD/2026
Date of Order: 22nd May, 2026
Presiding Members: Shri Praveen Gupta (Hon'ble Member - Judicial), Shri Ashish Verma (Hon'ble Member - Technical)
Under Section: 7 of the Insolvency and Bankruptcy Code (IBC)
Parties Involved
Financial Creditor (Petitioner): National Asset Reconstruction Company Limited
Represented by: Sh. Sandeep Arora, Advocate
Corporate Debtor (Respondent): Jaiprakash Power Ventures Limited
Represented by: Ms. Palak Kalra, Advocate; Sh. Abhishek Anand with Sh. Karan Kohli & Ms. Arshita Girdhar, Advocates
Current Proceedings
The hearing was primarily procedural. Counsel for the Financial Creditor stated that they had received the copy of the reply from the Corporate Debtor only on the previous day (21st May 2026). They sought time to examine this reply and file a rejoinder.
Directions & Next Hearing
The NCLT granted the Financial Creditor three weeks to file their rejoinder to the Corporate Debtor's reply. The Financial Creditor must serve an advance copy to the Corporate Debtor's counsel. The matter has been adjourned and is scheduled for further hearing on 15th July, 2026.
Note
This order documents a procedural adjournment in an ongoing insolvency proceeding. The substantive issues, allegations, findings, and potential outcomes of the case under Section 7 of the IBC are not addressed in this particular order and remain pending for future hearings.