Authority: National Company Law Tribunal, New Delhi Principal Bench
Order Date: 11 June 2026
Case Overview
The National Company Law Tribunal (NCLT) heard an insolvency petition filed by Indian Overseas Bank against M/s. Mhow Ghatabill Toll Road Pvt Ltd under Section 7 of the Insolvency & Bankruptcy Code, 2016. The case was listed as Item No. 116 (IB) - 159(PB)/2026. The hearing was conducted in hybrid mode (physical and video conference).
Despite being duly served, the respondent company failed to appear before the tribunal. Even on the previous hearing date of 09 June 2026, no representative appeared for the respondent. In the interest of justice, the tribunal had granted a final opportunity to the respondent to enter appearance, which remained unutilized.
The petitioner was represented by Mr. Kartik Malhotra, Advocate, along with Mr. S. Santanam Swaminadhan and Mr. Akhil Sarathy, Advocates. The tribunal heard arguments from the petitioner's counsel and subsequently reserved its order on the matter.
Final Outcome
The NCLT reserved its order on the insolvency petition. The petitioner was directed to file brief written submissions not exceeding two pages within two days from the order date. The final decision on admitting or rejecting the insolvency application will be pronounced after consideration of these submissions.
Topics: Insolvency Proceedings, Banking Sector, Infrastructure Company