NCLT Dismisses Insolvency Application Against McNally Bharat Engineering Company Limited
Mcnally Bharat Engineering Company Limited has received a decision from the National Company Law Tribunal (NCLT) regarding an application filed under the Insolvency and Bankruptcy Code, 2016.The NCLT issued an Order on June 10, 2026, in connection with an application that was dismissed and disposed of by the tribunal. The matter pertains to the company's proceedings related to a specific IA (IBC) No. 294 /KB/2026 and CP (IB) No. 891/KB/2020, which involved an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016.
The Order issued by the Hon'ble NCLT mandates certain actions directed at the Applicant/SRA. The tribunal directed that the Applicant/SRA must mandatorily comply with Clause 5.5.2.2 of the Resolution Plan forthwith.
Furthermore, the NCLT instructed the Respondent Banks to remove the NPA status and provide a No Objection Certificate (NOC) to the Applicant within one week of receiving the order. A Certified Copy of the Order has been applied for by the company.
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