Case Details
Case Name: Bank Of Baroda vs. Our Co. Infrastructure Developers Private Limited
Court/Authority: National Company Law Tribunal, New Delhi Principal Bench
Case Numbers: (IB)-680(PB)/2024, IA-3271/2025, IA-1714/2026
Order Date: 26.05.2026
Presiding Officers: Justice Anupinder Singh Grewal (President), Shri Ravindra Chaturvedi (Member Technical)
Parties Involved
Petitioners:
- Bank Of Baroda (Financial Creditor in main insolvency petition)
- Mr. Abhimanyu Mittal (Resolution Professional in contempt applications)
Respondents:
- Our Co. Infrastructure Developers Private Limited (Corporate Debtor)
- Mr. Akhilesh Kumar (Suspended Board of Director)
- Presidium Educational Charitable Trust (PECT) through its President Mr. Akash Gupta
- Other trustees/officers including Mr. Sumer Singh and Mrs. Sudhanshu Dadu
Legal Representatives:
- For Applicant: Ms. Prachi Batra, Adv.
- For IRP: Mr. Abhindra Maheshwari, Mr. Sivam Gupta, Advs. and Mr. Abhimany Mittal, IRP
- For Respondent: Mr. Arjun Chhibbar, Adv. for R-1 & 2 in IA-1714/2026; Mr. Mohit Chaudhary, Mr. Naveen Sharma, Adv.
- For Successful Bidder: Mr. Aditya V. Singh and Ms. Shreya Chandhok, Advs.
Issues / Allegations / Violations
IA-3271/2025: Contempt proceedings sought against Mr. Akhilesh Kumar for willful disobedience of order dated 21.05.2025 which directed suspended directors to cooperate with Resolution Professional and provide all documents and books in their possession. The Resolution Professional alleged that several documents remained in Mr. Akhilesh Kumar's possession and he was denied access to the Registered Office at EWS/DDA Block-A, Flat no.-708, DLF Capital Greens, Shivaji Marg, Moti Nagar, Karampura, Karam Pura, West Delhi, New Delhi 110015.
IA-1714/2026: Contempt proceedings sought against Presidium Educational & Charitable Trust, its trustees and officers for willful non-compliance of order dated 04.02.2026. The respondents were directed to: (a) provide IRP access to school premises at 4.513 Acres of School Land and Building in Mayfield Gardens, Sector 57, District Gurgaon, Haryana for valuation; (b) provide details of payments made under Education Collaboration Agreement dated 01.04.2013 and Tripartite Agreement dated 08.12.2014. The IRP alleged denial of access to school premises and non-provision of balance sheets after 2019, payment details, and lease deed documents.
Findings & Observations
The Tribunal found that:
- Mr. Akhilesh Kumar was present in court and undertook to provide Resolution Professional access to the Registered Office immediately
- All documents in the office would be made available to the Resolution Professional
- For the school premises, respondents submitted that valuation could be conducted after school hours due to 1,000 students attending
- Respondents committed to making available all requested documents including payment details, MoU, and other relevant documents
Penalties / Settlements / Directions
IA-3271/2025:
- Tribunal did not initiate contempt proceedings at this stage
- Mr. Akhilesh Kumar directed to provide Resolution Professional access to Registered Office immediately
- All documents in the office to be made available to Resolution Professional
- Application disposed of with liberty to apply
IA-1714/2026:
- Resolution Professional directed to visit school premises at 10 AM on Sunday with his team including valuers and PRAs
- Respondents directed to provide all necessary assistance
- Respondents directed to make available all requested documents including balance sheets after 2019, payment details, lease deed documents
- Resolution Professional to furnish names and details of accompanying team to respondents via email by Saturday evening
- Application disposed of with liberty to file afresh
Corrective Actions & Future Obligations
- Immediate compliance with document access and premises access requirements
- Ongoing cooperation between respondents and Resolution Professional
- Future reporting obligation if compliance issues persist
- Requirement for Resolution Professional to provide advance notice of team composition for site visits
Final Ruling & Enforcement
Both contempt applications (IA-3271/2025 and IA-1714/2026) were disposed of at this stage without initiating contempt proceedings, giving respondents a final opportunity to comply with previous orders. The Tribunal clarified that any future non-compliance would make respondents liable for penalty and punishment under the Contempt of Courts Act, 1971. Several other applications (IA-3797/2025, IA-3799/2025, IA-3800/2025, IA-3801/2025, IA-3802/2025, IA-1033/2026) were listed for hearing on 11.08.2026.