Authority: National Company Law Tribunal Allahabad Bench Prayagraj
Order Date: 10th June, 2026
Case Overview
The National Company Law Tribunal (NCLT) Allahabad Bench heard matters related to the corporate insolvency resolution process of Somanil Chemicals Ltd. The case (CP (IB) No.43/ALD/2019) was initiated by Punjab National Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), and the company is currently in liquidation status. Two interlocutory applications (IA No.232/2022 & IA No.172/2024) were being heard in relation to the main petition.
Final Outcome
The Tribunal adjourned the hearing to 3rd July, 2026, at the request of the Liquidator, Sh. Vekas Kumar Garg, who appeared in person. No respondents were present for the hearing. The matter was ordered to be placed higher on the board for the next hearing date.
Topics: Corporate Insolvency, Liquidation Proceedings, NCLT Hearing