NCLT Adjourns RARE ARC Petition Against Prakash Gupta

Authority: National Company Law Tribunal, Hyderabad Bench - 1

Order Date: 06-07-2026

Case Overview

The National Company Law Tribunal (NCLT) Hyderabad Bench - 1 heard Company Petition IB/143/2022 along with Interlocutory Application (IA) number IA (IBC) 577/2026. The petition was filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 by M/s. RARE Asset Reconstruction Pvt., Ltd. as the Petitioner against Mr. Prakash Chand Gupta and M/s. MBS Impex Pvt Ltd. as Respondents. The hearing was conducted in hybrid mode (VC and Physical) and was presided over by Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Ld. Counsel Mr. VVSN Raju represented the Applicant during the hearing. The Respondent was absent from the proceedings.

Final Outcome

The Tribunal adjourned the matter due to the absence of the Respondent. The next hearing for IA (IBC) 577/2026 in Company Petition IB/143/2022 is scheduled for 10.08.2026.

Topics: Insolvency Proceeding, NCLT Hearing, Adjournment