NCLT Indore Reserves Universal Polychem vs Krishna Electrical Order

Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1

Order Date: 15/06/2026

Case Overview

The proceeding involves an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Universal Polychem (India) Pvt Ltd (Operational Creditor/Applicant) against Krishna Electrical Industries Ltd (Corporate Debtor/Respondent). The case is registered as CP 11 of 2015 and TP(IBC)/1(MP)2024. The Hon'ble Bench comprising Shri Brajendra Mani Tripathi (Member Judicial) and Shri Man Mohan Gupta (Member Technical) heard the rival contentions presented by the advocates for both parties. Mr. Karan Mamgain and Mr. Mayank Verma (appearing online) represented the applicant, while Mr. Praveen N. Surange (appearing online) represented the respondent. The tribunal has completed hearing arguments and has perused the case record.

Final Outcome

The matter has been reserved for order. The final ruling on the admission of the insolvency petition under Section 9 IBC is pending and will be delivered at a future date.

Topics: Insolvency Petition, NCLT Proceeding, Section 9 IBC