Authority: National Company Law Tribunal, Indore Bench, Court No. 1
Order Date: 06/07/2026
Case Overview
The National Company Law Tribunal (NCLT) Indore Bench heard an interim application (IA/178(MP)2026) filed within the main insolvency proceeding (CP(IB)/53(MP)2023). The application was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The applicant was Mohd. Raees Sheikh, the Erstwhile Liquidator of M/s Chinar Realty Pvt Ltd. The respondents were Omkara Assets Reconstruction Pvt Ltd & Others. The tribunal, comprising Member (Technical) Shri Man Mohan Gupta and Member (Judicial) Shri Brajendra Mani Tripathi, heard arguments from both parties. The applicant was represented physically by Ms. Ayushi Patidar (PCA), while the respondents were represented online by advocates Mr. Soumyajit Saha and Mr. Somdutta Bhattacharya.
Final Outcome
The tribunal reserved the matter for order after hearing the rival contentions and perusing the record. Both parties were directed to file their written submissions within five days from the order date (06/07/2026). The final order on the interim application is pending.
Topics: NCLT Proceeding, Corporate Insolvency, Liquidation