Authority: National Company Law Tribunal (NCLT), New Delhi Bench (Court – II)

Order Date: 12 June 2026

Case Overview

This order pertains to a corporate insolvency resolution process initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The financial creditor, KSS Petron Private Limited, filed a petition against the corporate debtor, Bhubaneshwar Expressways Private Limited. The proceeding involves numerous Interlocutory Applications (IAs), including IA-2392/ND/2026 and IA-4254/ND/2025, which were heard in a hybrid mode (VC and Physical).

A primary procedural issue addressed was a typographical error in IA-2392/ND/2026, where prayer Clause-1 incorrectly referenced IA-5254/2025. The applicant's counsel, Mr. Deepak Khosla, clarified that the correct application number is IA-4254/ND/2025. This clarification was conceded by Mr. Sunil Fernandes, counsel for the Financial Creditor representing the Liquidator, and was accepted by the bench. The tribunal directed the applicant to file a formal affidavit to correct the official record.

For IA-4254/ND/2025, the applicant's counsel argued that no reply on merits had been filed by the non-applicants and requested no further opportunities be granted. The Resolution Professional (RP), represented by Mr. Gopal Jain, confirmed that a response to this IA had been filed. The Liquidator/Financial Creditor, through counsel Mr. Sunil Fernandes, also confirmed that a reply regarding the application's maintainability had been submitted.

Final Outcome

The tribunal listed IA-4254/ND/2025 along with a long list of other interconnected applications (IA-2355/ND/2025, IA-2549/ND/2025, Cont. Pett.-20/ND/2025, IA-1430/ND/2025, IA-2779/ND/2025, IA-2887/ND/2025, IA-3104/ND/2025, IA-2879/ND/2025, IA-4380/ND/2025, IA-4387/ND/2025, IA-4511/ND/2025, IA-4623/ND/2025, IA-4841/ND/2025, IA-5429/ND/2025, IA-5516/ND/2025, IA-5554/ND/2025, IA-5800/ND/2025, IA-71/ND/2025, IA-22/ND/2026, IA-106/ND/2026, IA-983/ND/2026, IA-2286/ND/2026) for the next hearing on 14 July 2026.

Topics: NCLT Proceeding, Insolvency Petition, Interlocutory Applications