Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: June 8, 2026
Case Overview
The application (IA/520(MP)2025) was filed by Chirag Rajendrakumar Shah, the Liquidator of GEI Industries System Ltd, against Naveen Kumar Sood, the Erstwhile Resolution Professional of the same company. The proceedings were initiated under Section 35(1)(n) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 9. The Applicant/Liquidator sought cooperation from both the erstwhile Resolution Professional and the Suspended Management in furnishing necessary information and records required for the liquidation process. An affidavit dated March 7, 2026, along with a tabulated statement, had been filed indicating the specific compliances required.
The Erstwhile Resolution Professional, Mr. Naveen Sood, appeared in person and submitted that he had furnished all information available with him through his reply dated April 16, 2026. The Liquidator's counsel contended that this reply was incomplete. The Suspended Management of the company neither appeared before the Tribunal nor responded to the list of information and records sought by the Liquidator.
Final Outcome
The Tribunal directed the Suspended Management of GEI Industries System Ltd to comply with and furnish all information and records sought by the Applicant/Liquidator as per the affidavit dated March 7, 2026. The order explicitly states that any information or records not available with or not furnished by the erstwhile Resolution Professional shall be provided by the Suspended Management. The matter has been listed for further consideration on July 27, 2026.
Topics: Corporate Insolvency, NCLT Proceedings