Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: 13th July 2026
Case Overview
This is an interim application (IA/244(MP)2026) filed within the main insolvency proceeding (TP 230 of 2019, which arose from CP(IB) 192 of 2017). The application has been filed by Chaya Gupta, the Resolution Professional (RP) of JSM Devcons India Pvt Ltd, against respondents Mamta Gupta & Others. The application is made under Sections 49, 66, and 67 of the Insolvency and Bankruptcy Code, 2016, read with Section 60(5). These sections pertain to transactions defrauding creditors, fraudulent trading, and wrongful trading, respectively. The matter was listed for hearing on 13th July 2026.
Final Outcome
The Tribunal granted a request from the representatives for Respondent Nos. 5, 7, and 16 to 19 for more time. These respondents were granted 10 days to file their reply to the application, with an advance copy to be provided to the Applicant (the RP). Upon receipt of the reply, the Applicant is permitted to file a rejoinder within one week. The matter has been adjourned and is next listed for hearing on 3rd August 2026.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Fraud