Authority: National Company Law Tribunal Allahabad Bench Prayagraj, Division Bench comprising Shri Praveen Gupta (Member Judicial) and Shri Ashish Verma (Member Technical)
Order Date: 12th June, 2026
Case Overview
This order addresses IA No.390/2026 filed in the main insolvency proceeding CP (IB) No.84/ALD/2024. The application was filed by Punjab National Bank seeking an extension of time for submission of its Expression of Interest (EOI) regarding the corporate insolvency resolution process of Tasty Dairy Specialities Limited. The applicant bank acknowledged that the last date for EOI submission had already lapsed on 28th February, 2026 as stipulated in the Form G publication and Request for Resolution Plan (RFRP) documents. The applicant's counsel, Sh. Yash Tandon, stated that an advance copy of the application had been served to both the Resolution Professional and the Committee of Creditors. The suspended board of Tasty Dairy Specialities Limited was represented by Sh. Shubham Agarwal, Advocate.
Final Outcome
The NCLT bench declined to issue immediate notices on the application, noting that the timeline for Resolution Plan submission had already expired as per the published Form G and RFRP requirements. The tribunal directed the Resolution Professional and Committee of Creditors to file their responses or objections to the extension application. The matter has been adjourned and scheduled for next hearing on 30th June, 2026, where it will be given higher priority on the board.
Topics: Corporate Insolvency, Timeline Extension, Expression of Interest