Authority: National Company Law Tribunal (NCLT), Guwahati Bench
Order Date: 12th June 2026
Case Overview
This order pertains to an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The corporate insolvency resolution process (CIRP) was initiated by the financial creditor, Eduvanz Financing Private Limited, against the corporate debtor, Abutani Mercantile Private Limited. The case is registered as CP (IB)/9/GB/2025. An Interlocutory Application, IA (IBC)/45/GB/2026, was also heard in this matter. The bench was composed of Hon'ble Member (Judicial) Shri Rammurti Kushawaha and Hon'ble Member (Technical) Shri Yogendra Kumar Singh.
During the hearing, Mr. Kamal Agarwal, the Interim Resolution Professional (IRP), was present in person. Mr. Karan Borad, Advocate, appeared on behalf of the Respondents (Abutani Mercantile). The respondent's counsel informed the tribunal that he had furnished the mobile number of the respondent and submitted that there is a possibility of a settlement between the two parties. Based on this submission, the counsel sought time to file a formal reply to the petition.
Final Outcome
The NCLT Bench granted the respondent's request for time. It directed that a reply be filed within fifteen days from the order date, with an advance copy provided to the opposite party (Eduvanz). The matter has been adjourned and is now listed for its next hearing on 24th July 2026. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, NCLT, Corporate Debt