Prudent ARC vs SAR Ispat NCLT Adjournment

Authority: National Company Law Tribunal, Division Bench (Court–I) Chennai

Order Date: 16 July 2026

Case Overview

The hearing concerned an interlocutory application (IA(IBC)/1539(CHE)2025) filed by Prudent ARC Ltd against SAR Ispat Pvt Ltd. The matter is connected to the main petition CP(IB)/161(CHE)/2023. The bench comprised Hon'ble Shri Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical).

During the hearing held via video conference, no representative or counsel appeared for the applicant, Prudent ARC Ltd, despite repeated calls. This marked the second consecutive hearing where the applicant was absent, as noted by the bench in the order.

Final Outcome

The bench granted a final opportunity for the applicant to appear and present arguments. The application has been adjourned and listed for the next hearing on 06 October 2026.

Topics: NCLT Proceeding, Corporate Insolvency, Adjournment