# In the matter of Chirag Pittie & Anr. vs. Mukesh Verma, IRP

> NCLAT judgment dated 2026-03-20. Citation: TCN-2026-NCLAT-00103. The case pertains to Company Appeal (AT) (Insolvency) No. 1933 of 2025. An application (I.A.…

- **Court:** NCLAT
- **Order date:** 20 Mar 2026
- **Citation:** TCN-2026-NCLAT-00103
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/chirag-pittie-anr-vs-mukesh-verma-irp-7062c3e9

## Summary

### Background

The case pertains to Company Appeal (AT) (Insolvency) No. 1933 of 2025. An application (I.A. No. 2078 of 2026) was filed in the matter of Chirag Pittie & Anr. versus Mukesh Verma (RP, Shrivallabh Pittie Industries Ltd.).

## Facts

The CoC has decided to wait for the adjudication of the PUEF matter before considering the plan submitted by the promoters.

An order passed under Sections 66 & 67 of the Insolvency and Bankruptcy Code, 2016 has already been stayed.

A liquidation application is proceeding, and the current date is also fixed in the liquidation application.

The adjudicating authority may hear the liquidation application but may not pass any final order until the present appeal is decided.

## Issues and analysis

### Issue 1: Whether the adjudicating authority can pass a final order on the liquidation application while the …

**Ratio:** The adjudicating authority may hear the liquidation application but may not pass any

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**Reasoning:** The court is of the view that the

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**Interpretation:** The court is exercising its power to prevent any irreversible actions before

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**Application:** The adjudicating authority is directed not to pass any final order on the

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Chirag Pittie &…
- **Respondents:** Shrivallabh…; Mukesh…
- **Advocates:** Abhijeet…; Anuj Ti…; +4 more

## Timeline

- **2026-02-10 — CoC Meet…**: Committee of Creditors (CoC) dated 10.02.2026, where CoC has taken the view that till the…
- **2025-12-08 — Stay Ord…**: Order passed under Sections 66 & 67 of the Insolvency and Bankruptcy Code, 2016 has…

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