Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)

Order Date: 29 June 2026

Case Overview

The National Company Law Tribunal (NCLT), Bengaluru Bench, presided over by Judicial Member Shri Sunil Kumar Aggarwal and Technical Member Shri Banwari Lal Meena, heard multiple interlocutory applications (IAs) in the ongoing Corporate Insolvency Resolution Process (CIRP) of Sterne India Pvt Ltd (Corporate Debtor). The main petition, CP(IB) No.192/BB/2024, was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by G4S Secure Solutions India Pvt Ltd as the operational creditor. The order addresses procedural matters related to four specific IAs filed in the case.

Final Outcome

The tribunal issued the following directions for each application:

  • IA No. 449/2025: The suspended directors of the corporate debtor sought time to file their Vakalatnama and objections to a non-cooperation application. The tribunal granted them 3 days to file the Vakalatnama and 2 weeks thereafter to file their reply/objections, with a copy to the learned counsel for the Resolution Professional (RP). The RP was given 2 weeks to file a rejoinder after receiving the objections.
  • IA No. 575/2025: While pleadings regarding Respondent No. 3 were complete, Respondents No. 1 and 2 were directed to file their Vakalat within 3 days and their reply/objections within 2 weeks, with a copy to the RP. The RP may file a rejoinder within another 2 weeks with a copy to the learned counsel for the respondent.
  • IA No. 205/2026: The applicant claimed that notice of the application had been served on the respondent via email. The tribunal directed that an affidavit of service be filed.
  • IA No. 498/2026: This was the 11th progress report for the ongoing CIRP of the corporate debtor for April 2026. The bench accepted the report and disposed of the application.

The matter was listed for the next hearing on 6 August 2026 for arguments on the pending interlocutory applications.

Topics: NCLT Proceedings, Corporate Insolvency, Procedural Orders