Authority: National Company Law Tribunal, Allahabad Bench, Prayagraj
Order Date: July 7, 2026
Case Overview
This order pertains to Interlocutory Application (IA) No.293/2025 filed under Section 19(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) in the matter of CP (IB) No.152/ALD/2024. The application was filed against the corporate debtor, M.S.A. Steel & Alloys Private Limited, by the applicant/erstwhile Interim Resolution Professional (IRP), Mr. Deepak Kumar Garg. The application sought directions to be issued to the non-applicant respondent, the ex-management of the company, to provide all relevant documents and information required for the Corporate Insolvency Resolution Process (CIRP).
During the hearing, the learned counsel for the applicant stated that the ex-management had subsequently provided the necessary information. This allowed for the formulation of the information memorandum and the invitation of expressions of interest from prospective resolution applicants. Consequently, the Committee of Creditors (COC) has approved a resolution plan from a successful applicant. A separate application, IA (Plan) No.05/2026, has been filed for this Adjudicating Authority's approval of the said plan.
Final Outcome
The adjudicating authority, comprising Shri Praveen Gupta (Member Judicial) and Shri Ashish Verma (Member Technical), found that the original application (IA No.293/2025) had become infructuous (moot) due to these subsequent developments. The application was therefore disposed of. The tribunal directed that the hearing for the resolution plan approval (IA (Plan) No.05/2026) be scheduled for the next day, July 8, 2026, to be taken up on priority.
Topics: Insolvency, NCLT, Corporate Debtor