Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: 22/06/2026
Case Overview
This matter involves an application (IA/951(AHM)2026) filed by an Interim Resolution Professional (IRP), Mr. Vinodkumar Surendralal Shah, in the ongoing proceedings of C.P.(IB)/455(AHM)2025 under Section 94 of the Insolvency and Bankruptcy Code, 2016. The application was filed by the applicant, Mrs. Pushpa Premprakash Chugh, against the respondent, The Punjab National Bank. The application was made under Section 60(5) of the IB Code, 2016 read with Rule 11 of the NCLT Rules, 2016. The IRP sought directions for the respondent bank to release payment against a proforma invoice. Alternatively, the IRP prayed for the tribunal to fix his fee and costs and issue necessary directions to the respondent for payment.
Final Outcome
The bench, comprising Mr. Shammi Khan (Member Judicial) and Mr. Sanjeev Sharma (Member Technical), issued a notice to the respondent, Punjab National Bank, returnable by the next date of hearing. The applicant was directed to serve the notice and a copy of the order upon the respondent via registered post, speed post, dasti mode, and registered email. The respondent was directed to file its reply to the application within one week from the date of receipt of the notice. The applicant is to file proof of service by way of an affidavit. The matter has been listed for further consideration on July 3, 2026. No final decision on the merits of the payment application was made in this order.
Topics: NCLT, Personal Guarantor, Banking Dispute