Authority: National Company Law Tribunal Chandigarh Bench (Court – II)
Order Date: 09.06.2026
Case Overview
This order pertains to multiple Interlocutory Applications (IAs) filed in the ongoing corporate insolvency resolution process of GPI Textile Ltd. (Corporate Debtor). The main application was filed by Phoenix Arc Pvt. Ltd. under Sections 9, 60(5) read with 68, 45(1), 49, 50(1), 66(1), and 60(5) read with 31 of the Insolvency and Bankruptcy Code, 2016 (IBC), as well as under Section 60(5) of IBC, 2016 read with Regulation 39(8). The case is registered as CP (IB) No.35/Chd/Hry/2018 and was admitted. Various parties were represented, including advocates for HPSEB Ltd. (in IAs 574/2024 and 1613/2023), CGST Division Baddi (in IA 546/2025), and an ex-director of the corporate debtor.
Final Outcome
The Bench adjourned the hearing of all applications due to a paucity of time. The matter is now listed for the next hearing on 08.09.2026.
Topics: Insolvency Proceedings, NCLT Adjournment