Authority: National Company Law Tribunal Chandigarh Bench (Court – II)
Order Date: 09.06.2026
Case Overview
The National Company Law Tribunal (NCLT) Chandigarh Bench was scheduled to hear multiple interconnected applications in the corporate insolvency resolution process of Kut Energy Pvt. Ltd. The matter involves Punjab National Bank as the applicant creditor against Kut Energy Pvt. Ltd. as the corporate debtor. The applications were filed under various sections of the Insolvency and Bankruptcy Code, 2016, including Section 7 (initiation of corporate insolvency), Section 54(1), Section 50(1) read with Section 25, Section 43(1) read with Section 44(1), and Section 60(5) (jurisdiction of NCLT). The case was originally admitted as CP (IB) No.392/Chd/HP/2018.
Final Outcome
The matter could not be heard on the scheduled date of 09.06.2026 due to paucity of time. The NCLT Chandigarh Bench adjourned the hearing to 11.09.2026. No substantive proceedings or decisions on the merits of the case occurred during this hearing.
Topics: Insolvency Proceedings, Banking Dispute, NCLT Adjournment