Chaya Gupta

Procedural delays continue to characterize the ongoing insolvency proceedings for JSM Devcons and Shri Krishna Devcons before the NCLT Indore Bench. The tribunal has repeatedly adjourned hearings and closed respondent reply rights for non-responsive parties, proceeding ex parte in several instances. These actions, including granting extensions for replies and allowing rejoinders, extend the timeline for resolution under the Insolvency and Bankruptcy Code. While these developments do not inherently reflect a change in the underlying financial health of the companies, they highlight the protracted nature of the insolvency process and potential challenges in achieving timely outcomes for creditors and stakeholders. The next hearing is scheduled for August 3, 2026, suggesting a continued focus on procedural matters.