Authority: National Company Law Tribunal (NCLT), Division Bench, Court - 1, Ahmedabad
Order Date: 22/06/2026
Case Overview
This order pertains to a series of interconnected Interlocutory Applications (IAs) filed within the main insolvency proceeding, CP(IB) 37 of 2017, involving PSL Ltd as the applicant and Edelweiss Assets Reconstruction Co Ltd & Others as respondents. The proceedings are under the Insolvency and Bankruptcy Code, 2016. The matter was heard by a bench comprising Mr. Shammi Khan, Member (Judicial) and Mr. Sanjeev Sharma, Member (Technical). Multiple advocates represented the various parties involved in the different applications.
The learned counsel for the applicant, who is the liquidator of PSL Ltd, informed the tribunal that the auction process concerning a bidder for the NRRA (likely a designated asset or division of the company) had been completed. Based on this update, the liquidator requested an adjournment in all the pending matters.
Final Outcome
The NCLT bench granted the request for an adjournment. All matters, including IA 388 of 2020, IA 778 of 2020, IA 779 of 2020, IA/122(AHM)2022, IA/340(AHM)2025, IA/308(AHM)2026 in IA 388 of 2020, and IA/381(AHM)2026, have been relisted for further consideration on 17th August 2026.
Topics: Corporate Insolvency, NCLT Proceeding, Liquidation Process