Authority: National Company Law Tribunal, Jaipur Bench
Order Date: July 14, 2026
Case Overview
The National Company Law Tribunal (NCLT) Jaipur Bench heard CP No. (IB)-98/9/JPR/2024, an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition involves Shiva Steelage Pvt. Ltd. as the Operational Creditor and Shri Sharma Steel Rolling Mills Pvt. Ltd. as the Corporate Debtor. During the hearing, counsel for both parties requested adjournments. The counsel representing the Corporate Debtor's arguing counsel cited a family bereavement as the reason for seeking accommodation. Similarly, the counsel representing the Operational Creditor's arguing counsel stated that the arguing counsel was engaged in another hearing and requested a short accommodation on their behalf.
Final Outcome
The Judicial Member, Mr. Praveen Gupta, granted the requests for accommodation and adjourned the matter. The case has been rescheduled for hearing on July 21, 2026, at 2:30 PM, for the same purpose as ordered in the previous hearing dated July 7, 2026. The order maintains the status quo until the next hearing date.
Topics: Insolvency Proceeding, Legal Adjournment, Steel Sector