Authority: National Company Law Tribunal, New Delhi Court – IV (Bench comprising Shri Manni Sankariah Shanmuga Sundaram, Member (Judicial) and Shri Atul Chaturvedi, Member (Technical))
Order Date: July 9, 2026
Case Overview
This matter involves an insolvency petition (IB/558/ND/2024) filed by IL&FS Financial Services Limited against M/s Ansal Properties and Infrastructure Limited under Section 7 of the Insolvency & Bankruptcy Code, 2016. The specific item being heard was IA/131/ND/2026. The Adjudicating Authority, upon perusal of the record, noted that a relevant Order dated April 16, 2026, passed by the Supreme Court in the case of IL & FS Financial Services Ltd. v. Pranav Ansal & Ors. existed. Furthermore, the bench observed that certain subsequent clarifications issued by the NCLAT regarding its own Order dated January 7, 2026, had not been brought to its notice. The bench determined that these developments may have a bearing on the adjudication of the present proceedings.
Final Outcome
The bench decided to de-reserve the matter so it could be heard afresh after all relevant orders and clarifications are properly placed on record. The Resolution Professional was directed to place on record all relevant Orders, including the aforementioned NCLAT clarifications. The Registry was instructed to list the matter before the Regular Bench for further hearing on July 30, 2026.
Topics: Insolvency Proceedings, Legal Procedure