Authority: National Company Law Tribunal (NCLT), New Delhi Principal Bench
Order Date: 13th July 2026
Case Overview
This is an order in a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor, Power2sme Private Limited, is the petitioner, and the corporate debtor is S.N.S Infra Projects Private Limited. The matter was heard in a hybrid hearing (physical and video conference).
During the hearing, learned counsel for both parties jointly submitted to the tribunal that they were on the verge of reaching a settlement. Based on this submission, they requested that the tribunal grant them some additional time to finalize the settlement terms.
Final Outcome
The two-member bench, comprising Justice Anupinder Singh Grewal (President) and Shri Ravindra Chaturvedi (Member - Technical), accepted the joint request of the parties. The tribunal did not pass any order on the merits of the insolvency petition at this stage. Instead, it adjourned the matter and relisted it for the next hearing on 21st July 2026. A new interlocutory application (IA-3086/2026) was also filed and listed for the same date. The final outcome is contingent upon the parties reporting the status of their settlement on the next date of hearing.
Topics: Insolvency Petition, Settlement Talks, NCLT Proceeding