Authority: Supreme Court of India
Order Date: 09-09-2026
Case Overview
- Parties: Assets Care and Reconstruction Enterprise Limited (appellant) vs Viswanadha Sarma & Ors. (respondents).
- Civil Appeal No. 10507/2026 and Stay Application IA No. 268863/2026 were listed for hearing on 9 September 2026 before a bench of Justice Sanjay Kumar and Justice Sanjeev Sachdeva.
- The matter arose from an impugned order dated 30 June 2026 passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi, concerning the corporate insolvency proceedings of the appellant.
- Counsel for both sides appeared; the Court was informed that a Committee of Creditors meeting was scheduled for the same day.
- The Court considered that accelerating the proceedings was unnecessary at this stage.
Final Outcome
- The Supreme Court ordered a stay of further proceedings in the appeal, referencing the NCLAT order of 30 June 2026.
- The Court directed that the matters be re‑listed on the date already notified in the earlier order.
- No further action shall be taken until the re‑listing.
Topics: Insolvency, Court Order, NCLAT