A petition was filed before the National Company Law Tribunal (NCLT), New Delhi under Section 9 of the Insolvency & Bankruptcy Code, 2016 (IBC) by the Operational Creditor, Durian Industries Limited, seeking initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor, NKG Infrastructure Limited, being heard by a Bench of Justice Anupinder Singh Grewal (President), and Mr. Ravindra Chaturvedi (Member) (Technical).
The matter was heard, and judgment was reserved on 04-08-2026. On 13-08-2026, the applicant appeared and mentioned that the respondent had filed a written note on 10-08-2026 disclosing that CIRP had been initiated against the Corporate Debtor by an order dated 29-11-2024 by NCLT Delhi. The order of admission was stated to have been challenged before the NCLAT wherein the operation of the admission order dated 29-11-2024 was stayed.
NCLT found it manifest that the CIRP had been earlier initiated against NKG Infrastructure and that this fact had been concealed by it. In the affidavit filed in reply to the main petition, the respondent had stated that it had not concealed any material fact. However, it was noted that the judgement in the matter was reserved on 04-08-2026, after which the respondent had preferred an application to notify the Tribunal that the CIRP had earlier been initiated by an order dated 29-11-2024. NCLT opined that the respondent had misled the court and that proceedings for perjury could be initiated against it.
The respondent submitted that the omission was an inadvertence on its part, and that the respondent was ready to pay a cost of Rs. 5,00,000/-. It was also submitted that the CIRP which had been initiated had also been stayed by the NCLAT on 03-12-2025. The Tribunal directed that, on the next date of hearing, the respondent should inform the court about the net worth of the respondent company, after which imposition of a proportionate cost would be considered.
NCLT directed the respondent to inform about its net worth, and to be present in court on the next date to explain why the material factum of the CIRP being initiated against it in 2024 had been concealed.
In pursuance of this, on the present date of hearing, the respondent apologised for not disclosing the factum of the previous CIRP and submitted that he would henceforth take all precautions to disclose material facts. The respondent volunteered to pay a sum of Rs. 11,00,000/- as cost, to be deposited in favour of the Poor Patients’ Fund under the aegis of the AIIMS, New Delhi. The matter will now be listed on 04-11-2026.
