Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 13th July 2026
Case Overview
This proceeding involves an application filed under Section 95 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicant is Tata Capital Ltd (formerly known as Tata Capital Financial Services Ltd) and the respondent is Rishabh Saurabh Garg. 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).
During the hearing, the counsel for the respondent, Mr. Akshat Sharma, submitted that a reply had already been filed on the DMS portal on 20th April 2026. The counsel for the applicant, Ms. Nidhi Mistry, stated that she had not received a copy of this reply and requested that it be provided to her.
Final Outcome
The Tribunal directed the respondent's counsel to once again furnish a copy of the reply to the applicant. Upon receipt of the reply, the applicant was granted permission to file a rejoinder, if they so wished, within one week thereafter. The matter was adjourned and listed for the next hearing on 3rd August 2026.
The order was signed by both members of the bench: Man Mohan Gupta (Member Technical) and Brajendra Mani Tripathi (Member Judicial).
Topics: Insolvency Proceeding, NCLT Order, Corporate Debt