Authority: National Company Law Tribunal, New Delhi Special Bench
Order Date: 30 June 2026
Case Overview
The National Company Law Tribunal (NCLT) heard multiple interim applications in the liquidation process of Stan Autos Private Limited (Corporate Debtor), initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 by financial creditor Mahindra and Mahindra Financial Services Limited. The proceedings involve several pending applications including IA-3319/2023, IA-4581/2023, IA-5167/2023, IA-5168/2023, IA-3868/2022, and IA-6118/2025.
The primary matter addressed was New IA-2780/2026, an application filed by the Liquidator seeking extension of the liquidation process for 180 days effective from 30 June 2026. The Liquidator cited that the Corporate Debtor's assets are currently under the possession and control of a Receiver appointed in separate arbitration proceedings, and an application regarding this matter is pending before the Tribunal.
The 12th Progress Report for the period ending 31 March 2026 (IA(Liq) Prog-346/2026) was taken on record and disposed of. Other procedural matters included requests for substituted service on respondents in IA-5168/2023 and directions for document exchange between parties in IA-3868/2022.
Final Outcome
The NCLT granted an extension of 120 days (instead of the requested 180 days) for the completion of the liquidation process, effective from 30 June 2026. All pending interim applications were adjourned to the next hearing date on 19 August 2026 for further proceedings. The Liquidator was directed to file a short note and complete substituted service on certain respondents before the next date.
Topics: Corporate Insolvency, Liquidation Process, NCLT Proceedings