Case Details

Case Name: IA No.83/2026 IN CP (IB) No.70/ALD/2018

Parties: Liquidator (Applicant) vs. Corporate Debtor (R.G. Steels Precision (India) Pvt Ltd)

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

Coram: Shri Praveen Gupta (Member Judicial), Shri Ashish Verma (Member Technical)

Date of Order: 20th May, 2026

Under Section: 9 IBC (Company in Liquidation)

Parties Involved

Petitioner/Applicant: The Liquidator of R.G. Steels Precision (India) Pvt Ltd, represented by Counsel Sh. Vipin Garg with Sh. Abhishek Aggarwal, Advocates.

Respondent: The Corporate Debtor, R.G. Steels Precision (India) Pvt Ltd, which is under liquidation.

Other Mentioned Party: Successful Auction Purchaser (unnamed).

Issues / Allegations / Violations

This is not a matter concerning allegations or violations. It is an application (IA No.83/2026) filed by the Liquidator seeking formal closure of the concluded liquidation process of the Corporate Debtor.

Findings & Observations

The Liquidator's counsel reported to the Tribunal that:

  • All assets of the Corporate Debtor have been successfully liquidated.
  • The sale of assets was confirmed pursuant to a previous order of the Tribunal dated 15th May, 2022.
  • There are no other applications pending in the liquidation process, except for two applications filed by the Successful Auction Purchaser against Power Utilities and the Nagar Nigam (Municipal Corporation).
  • The Liquidator contended that the pendency of these two applications by the auction purchaser has no bearing on the consideration of the prayer for closure of the liquidation process itself.

Penalties / Settlements / Directions

This application did not seek penalties. The primary direction sought was the official closure of the liquidation process.

Corrective Actions & Future Obligations

The application sought the Tribunal's approval to formally close the liquidation process, which would conclude the Liquidator's duties for this corporate debtor.

Final Ruling & Enforcement

The Tribunal heard the arguments presented by the Liquidator's counsel. After hearing the submissions, the Bench reserved its order on the application (IA No.83/2026). A final decision on closing the liquidation process is pending.