Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench
Order Date: 13 July 2026
Case Overview
This order pertains to a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Vinod Kumar Chauhan (Proprietor of Saroj Construction Co) against the corporate debtor, M/s Virtual Business Solutions Pvt Ltd. The case was originally registered as CP No.(IB)-26(PB)/2021 and was subsequently renumbered as RCP (IB)-04(PB)/2026. The petition has been admitted, and the Corporate Insolvency Resolution Process (CIRP) has been initiated against the respondent company.
A separate application (New IA-3019/2026) was filed by the Resolution Professional (RP) to take on record the report for the constitution of the Committee of Creditors. This report was prepared under Section 21 of the IBC, 2016 read with Regulation 17(1) of the IBBI (CIRP) Regulations, 2016, and also included a list of creditors as required under Regulation 13(2)(d) of the Insolvency Resolution Process For Corporate Persons Regulations, 2016.
Final Outcome
The Bench, comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member - Technical), admitted the Section 7 petition and formally initiated the CIRP against Virtual Business Solutions Pvt Ltd. The application (New IA-3019/2026) regarding the Committee of Creditors report was taken on record and disposed of. The office was directed to maintain the record and present it before the Bench at the time of final disposal of the matter.
- Topics: Corporate Insolvency, NCLT Proceedings