ARCIL Appeals Xrbia Developers IRP NCLAT Order

Case Details

Case Name: Comp. App. (AT) (Ins) No. 1536 of 2025 & Comp. App. (AT) (Ins) No. 1537 of 2025

Parties:

• Appellant: Asset Reconstruction Company (India) Ltd
• Respondents:
• Vikas Gopichand Khiyani, IRP of Xrbia Warai Developers Pvt. Ltd (Case 1536)
• Sanjay Vijay Jeswani, IRP of Xrbia North Hinjewadi Developers Pvt. Ltd (Case 1537)

Court/Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Date of Order: 26th May, 2026

Legal Representation:

• For Appellant: Mr. Abhiraj Ardra, Advocate (in both cases)
• For Respondents:
• Case 1536: Mr. Kunal Tandon, Senior Advocate with Shivansh Bhatt and Gaurav Jalendra, Advocates for RP
• Case 1537: Mr. Amir Arsiwala and Yash Jariwala, Advocates for RP

Final Ruling & Enforcement

The NCLAT bench comprising Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Member Technical) issued the following directions:

• Both appeals are listed for hearing on 17th July, 2026 "high on board"
• The interim order is to continue until the next hearing date
• The order was passed in hybrid mode

No findings on allegations, violations, penalties, or corrective actions are contained in this procedural order. The matter remains pending before the NCLAT with interim protection continuing.