Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj
Order Date: 7th July, 2026
Case Overview
This is an interim application (IA No.366/2026) filed within the main corporate insolvency resolution process (CIRP) case (CP (IB) No.15/ALD/2022). The application is filed by M/s Prudent ARC Ltd. (the Applicant) against M/s Perpendicular Construction Pvt Ltd (the Respondent). The main matter is an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). Dr. Pankaj Garg, Advocate, appeared for the Applicant/Resolution Professional.
Final Outcome
The two-member bench, comprising Member (Judicial) Sh. Praveen Gupta and Member (Technical) Sh. Ashish Verma, issued a procedural order. Notice of the present application was formally issued to the non-applicant/respondent/ex-management. The respondent is directed to file their response, if any, within two weeks of receiving the notice, after serving an advance copy to the other side. The matter is adjourned and will be heard next on 20th July 2026, a date already fixed in the main matter.
Topics: Insolvency Proceeding, NCLT Order, Section 7 IBC