Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 30th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench, comprising Hon'ble Member (Judicial) Sh. Praveen Gupta and Hon'ble Member (Technical) Sh. Ashish Verma, heard three interconnected applications (IA No.15/2023, IA No.126/2023, and IA No.127/2023) within the main company petition CP (IB) No.504/ALD/2019. The proceedings are between Renu Bala and Shree Basant Oils Limited, which is noted as 'dissolved' under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applications are specifically identified as PUFE (Preferential, Undervalued, Fraudulent, or Extortionate) applications, which require detailed consideration by the tribunal.
Final Outcome
The bench did not issue a final ruling on the merits of the PUFE applications. Instead, it adjourned the matter for further hearing. The next date for the hearing of these applications is scheduled for 12th August, 2026.
Topics: NCLT, Insolvency, PUFE