Authority: National Company Law Tribunal (NCLT) Amaravati Bench
Order Date: 29 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Amaravati Bench, comprising Hon'ble Member (Judicial) Shri Kishore Vemulapalli and Hon'ble Member (Technical) Shri Umesh Kumar Shukla, heard matters related to the liquidation proceedings of Nithin Grains and Mills Pvt. Ltd. (Corporate Debtor). The corporate debtor had been under liquidation since 05 January 2022. The proceedings involved two interlocutory applications: IA (IBC)/117/2026 filed by the Liquidator seeking extension of the liquidation period by 180 days, and IA (IBC)/131/2026 filed by the Stakeholders Consultation Committee (SCC) seeking change of the Liquidator and filing of the PUFE (Preferential, Undervalued, Fraudulent, and Extortionate) application.
The Tribunal noted that despite its previous order dated 15 April 2026, the Liquidator's memo dated 25 June 2026 was not in compliance with the directions. The matter required re-examination by the Committee of Creditors (CoC) to ensure proper compliance with the NCLT's order and consideration of the pending applications.
Final Outcome
The NCLT directed the Liquidator to place the matter before the Committee of Creditors for re-examination regarding compliance with the order dated 15 April 2026. The CoC must consider the application for extension of the liquidation period (IA IBC/117/2026), the application for change of Liquidator (IA IBC/131/2026), and the filing of the PUFE application. The CoC was instructed to take appropriate decisions in accordance with the Insolvency and Bankruptcy Code (Amendment) Act, 2026. The Registry was directed to serve a copy of the order to the Committee of Creditors, who were granted four weeks to file their report. The matter was listed for next hearing on 07 August 2026.
Topics: Insolvency Proceedings, Corporate Liquidation, Committee of Creditors