# Vinita Agarwala & Ors. vs. Power Pack Steel Industries Pvt. Ltd.

> NCLT judgment dated 2026-05-11. Citation: TCN-2026-NCLT-00518. A Section 7 application under the IBC-2016, CP (IB) No. 150/CTB/2019, was initially dismissed…

- **Court:** NCLT
- **Order date:** 11 May 2026
- **Citation:** TCN-2026-NCLT-00518
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/vinita-agarwala-ors-vs-power-pack-steel-industries-pvt-ltd-o79ck

## Summary

### Background

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.

## Facts

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.

…

## Issues and analysis

### Issue 1: Whether the Section 7 application should be admitted given the NCLAT's directions and the Corporate …

**Ratio:** An application under Section 7 of the Insolvency and Bankruptcy Code, 2016, must be

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**Reasoning:** The NCLAT had unequivocally set aside the initial dismissal of the Section 7 application

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**Interpretation:** The NCLAT's order acted as a binding directive to the Adjudicating Authority

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**Application:** In compliance with the NCLAT's order and considering the Corporate Debtor's

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## Parties

- **Judges:** Sh. Cheekati…; Banwari Lal…
- **Appellants:** Vinita Agarwala &…
- **Respondents:** Power Pack Steel…
- **Other parties:** CoC…; Yogesh…; +1 more
- **Advocates:** Sonal…; Kushagra…; +2 more

## Timeline

- **2022-01-07 — Initial Dismissal of…**: The NCLT Cuttack Bench dismissed CP (IB) No.…
- **2026-02-04 — NCLAT Order Setting…**: The Hon'ble NCLAT, in CA (AT) (Ins) No. 436/2022, set aside the NCLT's order and directed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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