Authority: National Company Law Tribunal, Bengaluru Bench
Order Date: 09.06.2026
Case Overview
This order pertains to two Interlocutory Applications (IAs) filed in the main insolvency petition CP (IB) No. 115/BB/2025. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Ghalla & Bhansali Securities Pvt Ltd (Petitioner) against Log 9 Materials Scientific Pvt Ltd (Respondent). The bench comprised Hon'ble Member (Judicial) Shri Sunil Kumar Aggarwal and Hon'ble Member (Technical) Shri Radhakrishna Sreepada. Representatives present included Shri Ashish Jha for the Resolution Professional (RP) and Shri Santosh Gogi for the landlords in IA 254/2026.
Final Outcome
For IA(IBC) 254/2026, the Tribunal adjourned the hearing and set a procedural timeline. The applicants (landlords) were directed to notify the application to the counsel for the Resolution Professional by forwarding a soft copy via email. The respondents were given three weeks to file objections, with a copy to the applicants' counsel. Subsequently, the applicants were given another three weeks to file a rejoinder. The matter was listed for arguments on the next hearing date of August 10, 2026.
For IA(IBC) 353/2026, the Tribunal noted that this application had been wrongly listed on the day's cause list as it had already been allowed on May 27, 2026. Consequently, it was ordered to be deleted from the current cause list.
The order represents a procedural update in an ongoing corporate insolvency resolution process, with no final decision on the merits of the case rendered in this specific hearing.
Topics: Insolvency Proceeding, NCLT Order, Corporate Debt