Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: 12 June 2026
Case Overview
This order pertains to Interlocutory Application (IA) No. New IA-352/ND/2026 filed in the main insolvency case IB-332/ND/2019. The proceedings were initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by M/s. Volkswagen Finance Pvt. Ltd. (Financial Creditor/Applicant) against M/s. Khullar Hospital Pvt. Ltd. (Corporate Debtor/Respondent). The matter appears to have reached the liquidation stage, as evidenced by the presence of a liquidator represented by Advocates Abhishek Anand, Karan Kohli, and Vanshika Dhoot. The specific IA sought the tribunal's approval for a progress report related to the liquidation process.
Final Outcome
The two-member bench comprising Hon'ble Member (Judicial) Sh. Ashok Kumar Bhardwaj and Hon'ble Member (Technical) Sh. Atul Chaturvedi allowed the application (IA-352/ND/2026). The progress report was taken on record "subject to all just exceptions," meaning the tribunal accepted the report while preserving the right to raise objections later if necessary. The hearing was conducted through a hybrid mode (both virtual and physical).
Topics: Insolvency Proceedings, Liquidation Update, NCLT Order