Case Details
Case Name: In the matter of R K Mining Pvt Ltd (Petitioner) AND Talwar Cars Pvt Ltd (Respondent)
Court/Authority: National Company Law Tribunal (NCLT), Hyderabad Bench – II
Case Number: IA (IBC)/818/2026 in Company Petition IB/242/7/HDB/2021 U/s 7 of IBC
Hearing Date: May 21, 2026
Parties Involved
Petitioner: R K Mining Pvt Ltd
Respondent: Talwar Cars Pvt Ltd
Legal Counsel for Applicant: Mr. Mayur Mundra
Liquidator: Mr. Santosh Bhatia
Bench: Shri. Rajeev Bhardwaj (Hon'ble Member - Judicial) and Shri. Sanjay Puri (Hon'ble Member - Technical)
Issues / Allegations / Violations
The application was filed seeking an extension of the Liquidation Period for Talwar Cars Pvt Ltd. The ground for the extension request was that arbitration proceedings were still pending before an Arbitral Tribunal.
Findings & Observations
The tribunal observed that the applicant had been relying on the same ground of pending arbitration proceedings for seeking an extension for more than one year.
Final Ruling & Enforcement
The NCLT disposed of the application (IA (IBC)/818/2026) and directed the applicant to close the Liquidation Process. The tribunal granted a final extension of the Liquidation Period by 30 days effective from May 21, 2026, to facilitate this closure. The pending arbitration proceedings are to be pursued by the Financial Creditor or other stakeholders as decided by the SCC (Stakeholders Consultation Committee).