Authority: National Company Law Tribunal (NCLT), Kolkata Bench
Order Date: 16 June 2026
Case Overview
This is an order from a hearing in the matter of C.P. (IB)/63(KB)2026. The proceeding is an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor, M/s Mangilal Pyarchand Jain, has filed against the corporate debtor, Vardhman Solvent Extraction Industries Ltd. During the hearing, the learned counsel for the corporate debtor submitted that they had been unable to file their reply in the matter and prayed for an extension of time to do so, requesting it as a last opportunity.
Final Outcome
The bench, comprising Member (Technical) Ms. Rekha Kantilal Shah and Member (Judicial) Smt. Bidisha Banerjee, noted the corporate debtor's failure to file its reply. Granting a final opportunity, the tribunal ordered that the reply must be filed within three days. This extension is conditional upon the corporate debtor paying costs of Rs. 25,000 (Twenty-Five Thousand Rupees) to the Prime Minister's National Relief Fund. The matter has been listed for its next hearing on 30 June 2026 for consideration.
Topics: Insolvency Proceeding, NCLT Order, Corporate Debtor