Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 29th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard multiple interlocutory applications in the ongoing corporate insolvency resolution process (CIRP) of Raama Paper Mills Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The matter involves Amar Ujala Limited & Anr. as parties versus Raama Paper Mills Limited. The hearing addressed five separate applications: IA No.521/2025, IA No.523/2025, IA No.544/2025, IA (Plan) No.06/2026, and IA No.389/2026 in CP (IB) No.37/ALD/2024.
Three of the applications (IA No.521/2025, IA No.523/2025, and IA No.544/2025) are identified as PUFE (Preferential, Undervalued, Fraudulent, or Extortionate) applications against the ex-management of the corporate debtor. Notices had already been issued to the ex-management in these matters.
Final Outcome
The Tribunal granted adjournments for filing responses in all applications. For IA No.389/2026, the Resolution Professional was given two weeks to file a response, with the matter adjourned to 22nd July, 2026 for hearing along with IA (Plan) No.06/2026. For the three PUFE applications (IA No.521/2025, IA No.523/2025, and IA No.544/2025), the ex-management (respondent nos. 3 & 4) was granted a final opportunity of two weeks to file their reply, with these applications adjourned to 10th August, 2026 for hearing.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debtor