RE: Court Hearing.8 Jun 2026 12:42
Looking through history imo mpl will get their asset back. They faced many challenges and when the courts got involved they ruled in favour of MPL. The CoC meeting only happened because the court ordered for them to consider their proposal but CoC never really had intentions of accepting the proposal. They have proof of all the minutes and the unfair treatment. Lets wait for official news which we will hopefully see by tomorrow morning as the official order won't appear on the NCLT website live. Could take 24-48hours. GLA.
A civil appeal was listed before the Supreme Court of India earlier today, in which the appellant sought to set aside the interim order previously granted in MPL's favour by the National Company Law Appellate Tribunal (NCLAT) on 10 December 2025.
Following submissions from all parties, the Supreme Court did not pass any adverse order against the Company and directed the NCLAT to hear the matter on 14 January 2026, and, if possible, to dispose of the appeal on that date.
Importantly, the interim order dated 10 December 2025 remains in force.
The Supreme Court has directed the Committee of Creditors ("CoC"), led by Prudent ARC Ltd, which now holds the Company's debt, to consider the Company's proposal under Section 12A of the Insolvency and Bankruptcy Code.
The National Company Law Tribunal ("NCLT"), Mumbai Bench, has now issued notice in the proceedings and directed the respondents to file their replies. The matter has been listed for further hearing on 8 June 2026.
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