Authority: National Company Law Tribunal, Court Room No. 1, Mumbai Bench
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Mumbai Bench, comprising Member (Technical) Prabhat Kumar and Member (Judicial) Sushil Mahadeorao Kochey, heard two interconnected applications (IA(I.B.C)/2462(MB)2025 and IA(I.B.C)/2463(MB)2025) within the main insolvency petition C.P. (IB)/251(MB)2023. The applications were filed by Mr. Rajan Garg, the Resolution Professional, against Mr. Vickaash Agarwal. The matter arises from the insolvency proceedings of Sun-Power Metalics Private Limited, initiated by Standard Chartered Bank Limited. The applications specifically concern investigations into potential preferential transactions under Sections 43(1) read with 44(1) and Section 7 of the Insolvency and Bankruptcy Code, 2016.
Final Outcome
The Bench granted an adjournment as the supplementary report from the Transactional Auditor was still awaited. The Tribunal directed the Transactional Auditor to finalize the report within one week. The matter has been stood over to 9 July 2026 for further consideration.
Topics: Insolvency Proceedings, Transaction Audit