Case Details
Case Name: In the matter of Niket Agarwal vs Prakash Industries Limited
Court/Authority: National Company Law Tribunal (NCLT), Chandigarh Bench, Court – II (Special Bench)
Case Number: CP (IB) No. 294/Chd/Hry/2024
Order Date: 20 May 2026
Next Hearing Date: 28 July 2026
Law Under: Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016
Parties Involved
Petitioner/Applicant: Niket Agarwal (Operational Creditor)
Respondent: Prakash Industries Limited (Corporate Debtor)
Legal Representatives:
- For the Applicant: Ms. Manant Anand, Advocate
- For the Respondent: Mr. Anand Chhibbar, Senior Advocate with Ms. Swati Vashisth, Advocate
Tribunal Members:
- Shri. Shishir Agarwal, Hon'ble Member (Technical)
- Shri. K. Biswal, Hon'ble Member (Judicial)
Proceedings
This matter was heard by a Special Bench of the NCLT Chandigarh on 20 May 2026. The tribunal noted that it was sitting as a Special Bench for this hearing. The matter involves an insolvency petition filed under Section 9 of the IBC, 2016 by operational creditor Niket Agarwal against corporate debtor Prakash Industries Limited.
Final Ruling & Enforcement
The tribunal has ordered that the matter be listed before the Regular Bench for the next hearing on 28 July 2026. The order was signed by both tribunal members. No other substantive orders or directions were passed in this particular hearing.