PNB vs Bhagwati Rice Mill CIRP 4th Progress Report

Case Name: Punjab National Bank vs M/s Bhagwati Rice Mill Private Limited

Court/Authority: National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj

Case Number: IA No.323/2026 IN CP (IB) No.24/ALD/2025

Date of Order: 22nd May 2026

Under Section: Section 7 of the Insolvency and Bankruptcy Code (IBC)

Status: Corporate Insolvency Resolution Process (CIRP)

Petitioner/Financial Creditor: Punjab National Bank

Corporate Debtor: M/s Bhagwati Rice Mill Private Limited

Resolution Professional (RP): Represented by Counsel Sh. Srijan Mehrotra, Adv.

Tribunal Members: Sh. Praveen Gupta (Hon'ble Member - Judicial) and Sh. Ashish Verma (Hon'ble Member - Technical)

Application Filed: IA No.323/2026 filed by the Resolution Professional

Purpose of Application: To place on record the 4th Progress Report of the Corporate Insolvency Resolution Process

Resolution Professional confirmed through counsel that Resolution Plans have been received for the corporate debtor
The received Resolution Plans are currently under active consideration by the Committee of Creditors (CoC)
The 4th Progress Report has been taken on record by the Tribunal subject to just exceptions

IA No.323/2026 stands disposed of after admitting the progress report
The matter has been scheduled for next hearing on 26th May 2026
The next hearing will consider other applications already listed for hearing in the case