Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)
Order Date: 29 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Bengaluru Bench, heard a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was filed by Indian Renewable Energy Development Agency Ltd as the financial creditor against M/s. Shree Basaveshwara Sugars Ltd as the respondent. The matter was listed as CP(IB) No. 37/BB/2022.
Final Outcome
The Tribunal was informed by the respondent's counsel about an existing stay order from the Hon'ble High Court of Karnataka, which is scheduled to be heard on 17 August 2026. Consequently, the NCLT adjourned the matter and listed it for further proceedings on 17 August 2026. The order was signed by both members of the bench: Shri. Sunil Kumar Aggarwal (Member Judicial) and Shri. Banwari Lal Meena (Member Technical).
Topics: Insolvency Proceeding, Court Adjournment