Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 14.07.2026
Case Overview
This order pertains to multiple Interlocutory Applications (IAs) filed in the matter of Asset Care and Reconstruction Enterprises Ltd (Petitioner) versus Sare Gurugram Pvt Ltd (Respondent) under Section 7 of the Insolvency and Bankruptcy Code (IBC). The bench comprised Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member Technical). Numerous advocates represented various applicants across the different applications.
The tribunal addressed three specific applications immediately:
- IA-07/2026 Liq: The applicant's counsel sought to withdraw this application. The tribunal dismissed it as withdrawn.
- IA-1008/2026: The applicant's counsel submitted that this application had been rendered infructuous as the matter had been settled. The tribunal dismissed it as infructuous.
- RA-58/2026: This was a restoration application seeking to restore IA No. 4877 of 2024. The application noted that on 28.01.2026, no one appeared for the applicant and the matter was adjourned to 21.04.2026 "for dismissal." On 21.04.2026, again no one appeared despite repeated calls. Based on the submissions in paragraphs 9 and 10 of the restoration application, the tribunal allowed RA-58/2026, thereby restoring IA No. 4877/2024 to its original position.
Final Outcome
The tribunal disposed of two applications (IA-07/2026 and IA-1008/2026) and allowed the restoration of a third (IA-4877/2024). A large number of other pending applications (IA-1786/2023, IA-2331/2023, IA-2738/2023, IA-4534/2023, IA-5013/2023, IA-6310/2023, IA-6472/2023, IA-1278/2024, IA-1317/2024, IA-2988/2024, IA-3134/2024, IA-3139/2024, IA-341/2024, IA-2608/2024, IA-3675/2024, IA-5935/2021, IA-201/2022, IA-560/2022, IA-2037/2025, IA-172/2026, IA-283/2026, IA-544/2026, IA-4212/2024, IA-2455/2026) were simply listed for the next hearing on 09.09.2026, with no substantive orders passed on them.
Topics: NCLT Proceedings, Application Disposal, Case Restoration