IN THE NATIONAL COMPANY LAW TRIBUNAL: NEW DELHI PRINCIPAL BENCH Transfer Application (IBC)/19(PB)/2026 IN THE MATTER OF:

M/s. VAIBHAV MERCANTILE LIMITED …. Applicant Versus M/s SINDHU STEELS .... Respondent Order under Rule 16(d) NCLT, 2016 Order Pronounced on: 08.05.2026 CORAM:

SHRI BACHU VENKAT BALARAM DAS HON’BLE ACTING PRESIDENT PRESENT:

For the Applicant : Mr. M. P. Srivignesh, Advocate along with Mr.

Sharavena Raghul ASR, and Mr. Mithun Kumaar N., Advocate ORDER

1. The present Applicant, has been filed by M/s Vaibhav Mercantile Limited, seeking the following prayers:

“a. Allow the present application and pass an order of transferring the captioned Company Petition C.P.(IB)/1416(MB)2025 from Ld. NCLT, Mumbai Bench to Ld. NCLT, Chennai Bench in the interest of justice.

b. Such further and/or other order or orders as this Hon'ble Court may deem fit and proper.”

Brief Background

2. The Applicant Company was incorporated under the Companies Act

1956 on 09.10.1987 in the year 1987 and was duly registered with the Registrar of Companies, Mumbai, Maharashtra.

3. The Applicant Company used to make purchases of ferrous scrap from the Respondent. The Respondent sent two letters dated 02.04.2025 an