Authority: National Company Law Tribunal, Jaipur Bench
Order Date: July 14, 2026
Case Overview
The National Company Law Tribunal (NCLT), Jaipur Bench, comprising Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar, heard a petition (CP No. (IB)-36/9/JPR/2026) filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was filed by Borouge PTE Ltd., the Operational Creditor/Applicant, against M/s Aksh Optifibre Ltd., the Corporate Debtor/Respondent. The petition sought the initiation of the Corporate Insolvency Resolution Process (CIRP) against Aksh Optifibre Ltd.
The Tribunal noted that the Corporate Debtor, M/s Aksh Optifibre Ltd., had already been admitted into CIRP in a separate, earlier case (CP No. 45/7/JPR/2023) vide an order dated June 19, 2023. Consequently, the present petition filed by Borouge PTE Ltd. was rendered infructuous as the corporate debtor was already undergoing resolution.
Final Outcome
The Tribunal disposed of the petition (CP No. (IB)-36/9/JPR/2026). The Operational Creditor, Borouge PTE Ltd., was directed to file its claim before the Interim Resolution Professional (IRP) appointed in the existing CIRP case (CP No. 45/7/JPR/2023). The order also granted liberty to the petitioner to seek revival of this disposed petition in the event of a settlement being reached in the main CIRP case (CP No. 45/7/JPR/2023).
Topics: Insolvency Petition, Corporate Debtor, CIRP