Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Company Appeal (AT) (Insolvency) No. 1246 of 2026. The appellant is Asset Reconstruction Company (India) Ltd. (ARCIL), acting in its capacity as Trustee of ARCIL-JCT III Trust. The respondents are Umesh Garg, the Resolution Professional of JCT Ltd., and another party. The appeal relates to insolvency proceedings concerning JCT Ltd. under the Insolvency and Bankruptcy Code (IBC). The appellant was represented by Senior Advocates Mr. Gopal Jain and Mr. Abhijeet Sinha, along with a team of advocates. The respondents were represented by Senior Advocate Mr. Ramji Srinivasan along with the Resolution Professional Mr. Umesh Garg and other advocates. The Committee of Creditors (CoC) was represented by Senior Advocate Mr. Manish Jain with advocates.
Final Outcome
The NCLAT bench, comprising Officiating Chairperson Justice Yogesh Khanna and Member (Technical) Barun Mitra, adjourned the hearing. The appeal was listed to be heard again on the next day, 16 July 2026. No substantive orders or rulings on the merits of the case were issued in this proceeding.
Topics: Insolvency Appeal, NCLAT Proceeding, Corporate Debt