Authority: National Company Law Tribunal (NCLT), Kochi Bench
Order Date: 09 June 2026
Case Overview
The matter involves an Interlocutory Application (IA(IBC)/123/KOB/2026) filed in the main petition CP(IBC)/54/KOB/2022. The petitioners are Mathew Joseph & Another, represented by Power of Attorney holder Xavier Mathew, and the respondent is Sreenivasan P R, who is the Liquidator in the matter of Asten Realtors Private Limited. The application is filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) read with Regulation 33(2) of the Insolvency and Bankruptcy Board of India (IBBI) regulations.
During the hearing, the Adjudicating Authority specifically queried why the successful bidder had not been impleaded in the case. Counsel for the applicants, Mr. Bhaskar (appearing physically with Ms. Sreelekshmi Ben), responded by stating his intention to implead the successful bidder as a party and sought time to file the necessary application. Counsel for the respondent, Mr. Vinod P V, appeared virtually along with the Liquidator, Mr. Sreenivasan P R.
Final Outcome
The Bench, comprising Member (Judicial) Shri Vinay Goel and Member (Technical) Shri Ravichandran Ramasamy, granted the request. The applicants' counsel was directed to file the application to implead the successful bidder within two days. The case was adjourned to 15 June 2026 for further hearing.
Topics: NCLT Proceeding, Corporate Insolvency, Liquidation Process