Authority: National Company Law Tribunal (NCLT), Indore Bench, Court No. 1
Order Date: June 29, 2026
Case Overview
This proceeding, identified as IA/75(MP)2024 in TP 229 of 2019 [CP(IB) 29 of 2018], involves an application filed under Section 19(2) read with Regulation 9 of the relevant regulations. The Applicant is Gagan Jhavar, the Liquidator of Arya Filaments Pvt Ltd. The Respondents are Surendra Kumar Agrawal & Others. The matter was heard by a bench comprising Hon'ble Shri Brajendra Mani Tripathi, Member (Judicial), and Hon'ble Shri Man Mohan Gupta, Member (Technical). The Applicant was represented by Ms. Ayushi Patidar, PCA (Online) along with Mr. Gagan Jhavar, the Liquidator-in-Person (Online). No one appeared on behalf of the Respondents. The core allegation presented by the Applicant's counsel was that the erstwhile Resolution Professional had failed to comply with previous orders issued by the Tribunal, despite having been granted several opportunities to do so.
Final Outcome
The Tribunal, after hearing the submissions and perusing the record, reserved the matter for a final order. No final ruling, penalty, or direction was issued in this specific hearing.
Topics: Corporate Insolvency, Tribunal Proceedings