Authority: National Company Law Tribunal (NCLT), Amaravati Bench
Order Date: June 9, 2026
Case Overview
This is an order in a Rest. Application (IBC)/1/2026, which is filed within the main insolvency petition CP(IB)NO.34/9/AMR/2020. The petitioner and operational creditor is MSP Steel & Power Ltd, and the respondent and corporate debtor is Aditya Steel Rolling Mills Pvt Ltd. The matter was heard by a bench comprising Member (Judicial) Shri Kishore Vemulapalli and Member (Technical) Shri Umesh Kumar Shukla. The counsel for the operational creditor, D. R. Hari Prasad, was present, as was the counsel for the corporate debtor, Mr. TSBV Rama Reddy. The application pertains to compliance with directions issued in a previous order dated May 11, 2026.
Final Outcome
The tribunal granted the operational creditor's request for a one-week extension to comply with the directions from the order dated May 11, 2026. It was explicitly stated that failure to comply by this new deadline would render the present application liable for dismissal on the next hearing date. Concurrently, the tribunal granted a final opportunity to the corporate debtor to comply with the same May 11, 2026 order. The order states that if the corporate debtor fails to comply, its right to advance arguments in the matter shall stand forfeited. The case has been adjourned and is now listed for further consideration on July 1, 2026.
Topics: Insolvency Proceeding, NCLT Order, Compliance Deadline