NCLT Disposes Reliagre-Ligare Section 7 Petition

Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench

Order Date: 09.06.2026

Case Overview

The National Company Law Tribunal (NCLT) disposed of a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition, CP-(IB)-02(PB)/2022, was filed by Reliagre Enterprises Ltd. (Financial Creditor) against Ligare Aviation Ltd. (Corporate Debtor). The NCLT had previously allowed this petition and initiated Corporate Insolvency Resolution Process (CIRP) against Ligare Aviation Ltd. vide its order dated 18.07.2023. This initiation order was subsequently challenged before the National Company Law Appellate Tribunal (NCLAT).

Final Outcome

The NCLAT, vide its order dated 27.05.2026, set aside the NCLT's order from 18.07.2023 and allowed the appeal. Consequently, the NCLT disposed of the original petition (CP-(IB)-02(PB)/2022) in terms of the NCLAT's order. The files were ordered to be consigned to record storage.

Topics: Insolvency, Appellate Tribunal Ruling