Authority: National Company Law Tribunal Guwahati Bench
Order Date: 12th June 2026
Case Overview
The National Company Law Tribunal (NCLT) Guwahati Bench, comprising Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh, heard two interconnected applications related to insolvency proceedings against Nayak Infrastructure Pvt. Ltd.
The primary matter (CP (IB)/10/GB/2021) involves a petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Nayak Infrastructure Pvt. Ltd. Two Interlocutory Applications were heard: IA (IBC)/37/GB/2022 and IA (IBC)/166/GB/2024.
For IA (IBC)/37/GB/2022, the respondents (Nayak Infrastructure) sought another adjournment through proxy counsel Ms. Rima Deb, citing that their main counsel Mr. Samrat Saha Roy was unable to appear due to personal difficulties. The tribunal noted that the respondents had sought adjournments on several previous dates.
For IA (IBC)/166/GB/2024, filed by Mahindra and Mahindra Financial Services Limited, the liquidator Ms. Sudha Sarma noted that the applicant had not been appearing in the matter for a considerable period and prayed for dismissal due to non-prosecution.
Final Outcome
The tribunal granted one final adjournment to the respondents in IA (IBC)/37/GB/2022 subject to payment of costs of Rs. 5,000 (Rupees Five Thousand Only) to the Prime Minister's National Relief Fund. Proof of payment must be submitted to the Registry before the next hearing date on 27th July 2026.
IA (IBC)/166/GB/2024 filed by Mahindra and Mahindra Financial Services Limited was dismissed for non-prosecution as the applicant had not appeared on several previous dates and appeared no longer interested in pursuing the matter.
The main insolvency petition (CP (IB)/10/GB/2021) filed by State Bank of India against Nayak Infrastructure Pvt. Ltd. remains pending and is listed for next hearing on 27th July 2026.
Topics: Corporate Insolvency, NCLT Proceedings, Creditor Rights