Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Order Date: 10th July, 2026
Case Overview
This order pertains to two Interim Applications (IAs) filed in the main insolvency petition, CP (IB) No.7/ALD/2021, against M/s Primuss Pipes & Tubes Ltd. The corporate insolvency resolution process has concluded, and a resolution plan has been approved. The hearing was conducted by a Special Bench headed by Sh. Praveen Gupta, Hon'ble Member (Judicial).
- IA No.152/2025: This application involves respondents including BSE and NSDL. Counsel for the Chairman of the Monitoring Committee appeared. It was noted that pleadings in this matter are complete. There was no representation from BSE during this hearing.
- IA No.56/2026: This is a new application filed specifically seeking the dissolution of the Monitoring Committee that was constituted as part of the insolvency resolution process.
Counsel from SEBI, NSDL, and the Monitoring Committee were present during the proceedings.
Final Outcome
The NCLT did not rule on the merits of either application. Both IA No.152/2025 and IA No.56/2026 were adjourned for a hearing on 20th July, 2026, before the Regular Bench of the NCLT. The dissolution of the Monitoring Committee and any other pending issues remain undecided pending the next hearing.
Topics: Insolvency, Regulatory Hearing