Authority: National Company Law Tribunal, Division Bench, Court - 1, Ahmedabad
Order Date: 09/10/2026
Case Overview
This Company Petition has been filed by Prabhat Renewable Energy & Agro Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The petition seeks initiation of Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, Onix Renewable Limited, for alleged default in payment of operational debt amounting to Rs. 23,59,14,458.35 (Twenty-Three Crore Fifty-Nine Lakh Fourteen Thousand Four Hundred Fifty-Eight and Thirty-Five Paise).
The matter is being heard by a bench comprising Mr. Shammi Khan, Hon'ble Member (Judicial) and Mr. Sanjeev Sharma, Hon'ble Member (Technical). The applicant has submitted that an advance copy of the Company Petition has been served upon the Corporate Debtor in compliance with Rule 6 of the relevant Rules.
Final Outcome
The NCLT has issued notice to the Respondent (Onix Renewable Limited) returnable on the next date of hearing, 13 October 2026. The Registry has been directed to serve the notice through electronic mode and place proof of service on record. The Applicant (Prabhat Renewable Energy) must collect the notice and serve it along with a copy of the Order upon the Respondent forthwith by Registered Post/Speed Post and Dasti at its registered address as reflected in MCA records, and through electronic mode at its registered email address. The Respondent has been directed to file its reply within 2 days from the date of receipt of notice. Any rejoinder must be filed before the next date of hearing. The Applicant must file an affidavit of service before the next date of hearing. The matter has been re-listed for further consideration on 13.10.2026.
Topics: Insolvency Proceedings, Operational Debt, Renewable Energy Sector