Authority: National Company Law Tribunal Allahabad Bench Prayagraj, Division Bench (Shri Praveen Gupta, Hon'ble Member (Judicial) and Shri Ashish Verma, Hon'ble Member (Technical))
Order Date: 7th July, 2026
Case Overview
This hearing concerned multiple Interlocutory Applications (IA No.206/2022, IA No.62/2023, IA No.214/2023, IA No.215/2023, IA No.183/2024 & IA No.219/2026) within the main insolvency petition CP (IB) No.322/ALD/2018. The matter involves Mrs. Anita Nirula & Anr as applicants versus M/S Piyush Shelters India Pvt Ltd as the Corporate Debtor, which is under Corporate Insolvency Resolution Process (CIRP). The specific application considered was IA No.219/2026, filed by the Successful Resolution Applicant (SRA). The SRA's counsel argued for putting the consideration of the Resolution Plan in abeyance. The basis for this request was an action taken by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA), alleging that assets of the Corporate Debtor were involved. The SRA's counsel relied on a press release attached to the application to support this claim. The Resolution Professional (RP) filed a reply to this application, which included a copy of a Panchnama and had been duly served to the applicant. The RP's counsel countered the SRA's claim, stating that no assets of the Corporate Debtor had been seized or attached by the Enforcement Directorate. The RP argued that this fact negated the SRA's basis for seeking a delay in the implementation of the Resolution Plan.
Final Outcome
Faced with the RP's rebuttal, the counsel for the SRA requested three days to take further instructions on the matter. The Adjudicating Authority granted this request and adjourned the hearing. All applications, including IA No.219/2026, are now listed to be heard on 13th July, 2026.
Topics: Insolvency Proceeding, PMLA Investigation, Resolution Plan