Authority: National Company Law Tribunal, New Delhi Court-IV
Order Date: 08 June 2026
Case Overview
The National Company Law Tribunal (NCLT), New Delhi Court-IV heard an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was filed by Pashupati Facility & Management Services Private Limited (Financial Creditor) against Prodot Media Private Limited (Corporate Debtor). The matter was heard through hybrid mode (physical and video conference).
During the hearing, learned counsel Ms. Kanika Singhal appeared for the Financial Creditor. Despite repeated calls, no representative appeared on behalf of the Corporate Debtor. The tribunal noted that on the previous hearing date of 18 May 2026, the Corporate Debtor had also failed to appear. Consequently, the Corporate Debtor was set ex-parte. The tribunal acknowledged that the Corporate Debtor's reply was already on record.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri Mahendra Khandelwal and Member (Technical) Shri Atul Chaturvedi reserved their order in the matter. The final decision on the Section 7 insolvency application will be delivered at a later date.
Topics: Insolvency Proceedings, Corporate Debt, NCLT