Authority: National Company Law Tribunal Allahabad Bench, Prayagraj
Order Date: 11th June, 2026
Case Overview
This hearing concerned Interim Application (IA) No.386/2026, filed within the main insolvency proceeding CP (IB) No.55/ALD/2017. The corporate debtor involved is M/s LML Ltd, which is under liquidation pursuant to Section 10 of the Insolvency and Bankruptcy Code (IBC). The application was heard by a division bench comprising Shri Praveen Gupta, Member (Judicial), and Shri Ashish Verma, Member (Technical). Counsel for the applicant in the IA, Shri Vipin Garg, and counsel for the liquidator, Shri Shubham Agarwal, were present for the hearing. The non-applicant respondent in the IA is the Uttar Pradesh State Industrial Development Authority (UPSIDA).
Final Outcome
The tribunal issued formal notice to the two respondents: the Uttar Pradesh State Industrial Development Authority (UPSIDA) and the Liquidator of M/s LML Ltd. Both respondents were directed to file their replies or responses to the application within a period of two weeks. They were further ordered to supply an advance copy of their reply to the other side. The matter was adjourned and is scheduled for its next hearing on 14th July, 2026.
Topics: Insolvency, NCLT Proceedings