Authority: National Company Law Tribunal, New Delhi - Special Bench (Court-II)
Order Date: 10 July 2026
Case Overview
This matter involves an insolvency proceeding under Section 9 of the Insolvency and Bankruptcy Code, 2016 between M/s VMS Equipment Pvt. Ltd. (Applicant/Petitioner) and M/s Primose Inftatech Pvt. Ltd. (Respondent). The case bears the main number IB-995/ND/2018 and involves multiple interconnected applications (IAs) and a contempt petition (Contt.Pet-48/ND/2025). The proceedings were heard through hybrid mode (VC and Physical).
Representation included:
- For the Suspended Management/Board of Promoters (SBP): Adv. Saurabh Kalia, Adv. Mrinal Harsh Vardhan, Adv. Rituparna Patra
- For the Successful Resolution Applicant (SRA): Sr. Adv. Sunil Fernandes, Adv. Rishabh Nangia
- For the Resolution Professional (RP): Sr. Adv. Sumant Batra with multiple advocates and Anil Matta (RP)
- For the Homebuyers: Dr. Farukh Khan, Adv. Vidhi Jain, Adv. Radhika Maheshwari
- Additional representation: Sr. Adv. Siddharth Yadav, Adv. Animesh Rastogi, Adv. Shashank Pandey, Adv. Rajat Dubey
The arguments from the Resolution Professional and Successful Resolution Applicant have been concluded. However, arguments from the Homebuyers and Suspended Management remain pending.
Final Outcome
The hearing has been adjourned to 23 July 2026 for the remaining arguments from the Homebuyers and Suspended Management. The order was signed by Hon'ble Member (J) Ms. Reeta Kohli.
Topics: Corporate Insolvency, NCLT Proceedings, Section 9 IBC