Authority: National Company Law Tribunal, Jaipur Bench
Order Date: June 17, 2026
Case Overview
The National Company Law Tribunal (NCLT), Jaipur Bench, presided over by Judicial Member Ms. Reeta Kohli and Technical Member Ms. Kavita Bhatnagar, heard two interlocutory applications in an ongoing insolvency proceeding. The main petition, CP No. (IB)-22/9/JPR/2021, was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by Shri Vikas Maheshwari, Proprietor of M/s Vikas Trading Company (Operational Creditor), against M/s Sanwariya Furnaces Pvt. Ltd. (Corporate Debtor). The hearing was conducted via a web-based video conferencing platform.
Two applications were before the bench:
1. IA No. 98/JPR/2024: An application filed by the Liquidator. Counsel for the Operational Creditor, Prabhansh Sharma and Nagendra Singh Adha, appeared and stated that they had been assigned this application concerning Preferential, Undervalued, Fraudulent, or Extortionate (PUFE) transactions as the No Resolution Professional Registered Application (NRRA). They requested time to seek appropriate instructions.
2. IA (IBC) (Dis) No. 01/JPR/2025: No representative appeared for the Liquidator during this hearing.
Final Outcome
The NCLT bench, in the interest of justice, adjourned both applications. The matters have been posted for the next hearing on July 15, 2026. The proceedings remain pending.
Topics: Insolvency Proceeding, NCLT Hearing, Case Adjournment