Authority: National Company Law Tribunal, New Delhi Court-IV
Order Date: June 8, 2026
Case Overview
The National Company Law Tribunal (NCLT) heard an intervention petition (New Intervention Petition/38/ND/2026) filed within the main insolvency proceeding IB/558/ND/2024. The petition was filed by IL&FS Financial Services Limited against M/s Ansal Properties and Infrastructure Limited (APIL) under Section 7 of the Insolvency & Bankruptcy Code, 2016. The specific intervention application was filed under Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT Rules, 2016. The petitioner seeks directions for project-wise resolution of the corporate debtor, including the constitution of separate Committees of Creditors for different projects.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri Mahendra Khandelwal and Member (Technical) Shri Atul Chaturvedi heard the learned counsel for the applicant and issued formal notice to the respondents. The respondents are required to appear before the tribunal and file their reply to the intervention petition. Notice is to be issued through all modes, and proof of service must be filed with the tribunal. The matter has been listed for the next hearing on July 3, 2026.
Topics: Insolvency Proceedings, Real Estate Resolution, Creditor Committees