Authority: National Company Law Tribunal, New Delhi Court III (Division Bench)
Order Date: 08 July 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi heard multiple interconnected applications in the corporate insolvency resolution process of Tirupati Infraprojects Pvt. Ltd. The main petition was filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) as the financial creditor, registered as IB-104/PB/2017. The matter involves several Interlocutory Applications (IAs) including IA-5318/2025, IA-3620/2025, IA-2863/2025, R Plan-49/2025, IA-5981/2025, IA-2748/2026, and IA-2075/2026. The hybrid hearing (physical and virtual) was presided over by a Division Bench consisting of Shri Bachu Venkat Balaram Das, Hon'ble Member (Judicial) and Shri Ravindra Chaturvedi, Hon'ble Member (Technical).
Multiple parties were represented by counsel: For the Applicant (Bank of India) by Adv. Niraj Chamyal and Mr. Rahul Jindal; For NSEL by Mr. Atul Nanda, Sr. Adv. with a team of junior advocates; For SEBI by Mr. Abhishek Baid and team; For the Liquidator by Mr. Gaurav Rana and Mr. Shashwat Anand; For the Committee of Creditors (CoC) by Mr. Sunil Fernandes, Sr. Adv. with team; and For the Resolution Professional (RP) by Mr. Sumesh Dhawan and team.
The tribunal heard partial submissions from Mr. Atul Nanda, Learned Senior Counsel appearing for the Applicant in IA-5318/2025 but did not reach a final decision on any of the applications.
Final Outcome
The NCLT adjourned all matters to 14 July 2026. Specifically, IA-5318/2025 was listed for 14 July 2026 at 3:00 PM for further arguments, while all other applications (IA-3620/2025, IA-2863/2025, R Plan-49/2025, IA-5981/2025, IA-2748/2026, and IA-2075/2026) were simply adjourned to the same date without specific timing. No substantive order was passed beyond scheduling the next hearing.
Topics: Corporate Insolvency, NCLT Proceedings, Debt Resolution