Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)
Order Date: 29 June 2026
Case Overview
The matter involves an insolvency petition (CP(IB) No. 21/BB/2020) filed by M/s Mfar Constructions Pvt Ltd against Canopy Estates Pvt Ltd under Section 9 of the Insolvency and Bankruptcy Code, 2016. Multiple Interlocutory Applications (IA 313/2023, 417/2023, 787/2023, 523/2025, and IA (IBC) 446/2026) are being heard in conjunction with the main petition. The applicants in IA 417/2023 informed the tribunal that the previous order has been challenged before the National Company Law Appellate Tribunal (NCLAT) in Chennai, seeking deferment of the hearing.
Final Outcome
The tribunal adjourned the hearing and listed the matter for arguments on 13 August 2026. The Resolution Professional (RP) was directed to file a statement of account for Corporate Insolvency Resolution Process (CIRP) costs, including remuneration details and amounts received so far. The tribunal also noted that a hard copy of the application in IA 446/2026 was still awaited.
Topics: Insolvency Proceeding, NCLT Adjournment, CIRP Costs