Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 14 July 2026
Case Overview
This is an interlocutory application (IA/267(MP)/2026) filed in the main insolvency proceeding (CP(IB)/26(MP)/2024). The application has been filed by Jyoti Khandelwal (Applicant) against Hasti Mal Kachhara, the Resolution Professional of Pushp Ratna Realty Pvt Ltd, and Others (Respondents). The proceedings are being conducted under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules. The matter was heard by a bench comprising Hon'ble Shri Brajendra Mani Tripathi (Member Judicial) and Hon'ble Shri Man Mohan Gupta (Member Technical).
Final Outcome
The Tribunal noted that the Reply on behalf of Respondent No. 1 (the Resolution Professional) was filed on 10 July 2026. The Applicant's counsel stated that no replies had been received from Respondent Nos. 2 and 3. The bench granted a final opportunity of 10 days to Respondent Nos. 2 and 3 to file their replies, with an advance copy to be provided to the Applicant. Upon receipt of these replies, the Applicant is permitted to file a rejoinder, if any, within one week thereafter. The matter has been listed for its next hearing on 05 August 2026.
Topics: Insolvency Proceeding, NCLT Order, Corporate Legal Dispute