A Section 7 application under the IBC-2016, CP (IB) No. 150/CTB/2019, was initially dismissed by the NCLT Cuttack Bench on January 7, 2022. This dismissal was subsequently challenged before the Hon'ble NCLAT. The NCLAT, through its order dated February 4, 2026, in CA (AT) (Ins) No. 436/2022, set aside the NCLT's order and directed the Adjudicating Authority to admit the Section 7 application. The NCLAT also granted the Corporate Debtor a period of 30 days to discharge its debt.
CP (IB) No. 150/CTB/2019, a Section 7 application under IBC-2016, was dismissed by the NCLT Cuttack Bench on January 7, 2022.
The dismissal order was challenged before the Hon'ble NCLAT.
The NCLAT, vide order dated February 4, 2026, in CA (AT) (Ins) No. 436/2022, set aside the NCLT's order.
The NCLAT directed the Adjudicating Authority to admit the Section 7 application and pass consequential orders within four weeks from its order date.
The NCLAT also granted the Corporate Debtor 30 days to discharge its debt and file proof of discharge.
The Corporate Debtor failed to comply with the NCLAT's directions to discharge the debt liability.
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The NCLT Cuttack Bench…
The Hon'ble NCLAT, in CA (AT) (Ins) No.…
A Section 7 application under the IBC-2016, CP (IB) No. 150/CTB/2019, was initially dismissed by the NCLT Cuttack Bench on January 7, 2022. This dismissal was subsequently challenged before the Hon'ble NCLAT. The NCLAT, through its order dated February 4, 2026, in CA (AT) (Ins) No. 436/2022, set aside the NCLT's order and directed the Adjudicating Authority to admit the Section 7 application. The NCLAT also granted the Corporate Debtor a period of 30 days to discharge its debt.
CP (IB) No. 150/CTB/2019, a Section 7 application under IBC-2016, was dismissed by the NCLT Cuttack Bench on January 7, 2022.
The dismissal order was challenged before the Hon'ble NCLAT.
The NCLAT, vide order dated February 4, 2026, in CA (AT) (Ins) No. 436/2022, set aside the NCLT's order.
The NCLAT directed the Adjudicating Authority to admit the Section 7 application and pass consequential orders within four weeks from its order date.
The NCLAT also granted the Corporate Debtor 30 days to discharge its debt and file proof of discharge.
The Corporate Debtor failed to comply with the NCLAT's directions to discharge the debt liability.
…The NCLT Cuttack Bench…
The Hon'ble NCLAT, in CA (AT) (Ins) No.…