Bhagwandas Bhattad and JM Financial Settle NCLAT Dispute

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

Order Date: October 6, 2026

Case Overview

This is an appeal (Comp. App. (AT) (Ins) No. 1883 of 2025) along with two interlocutory applications (I.A. No. 7331 and 7332 of 2025) heard by a bench comprising Justice Mohammad Faiz Alam Khan (Member - Judicial) and Naresh Salecha (Member - Technical). The appellant is Bhagwandas Bhattad, and the respondent is JM Financial Credit Solutions Ltd., the financial creditor. The matter pertains to insolvency proceedings. During the hearing, counsel for both parties informed the tribunal that a settlement had been arrived at between them.

Final Outcome

The tribunal was informed that only the terms of the settlement needed to be reduced to writing. The parties jointly requested a period of three weeks to complete this formality and bring the settlement on record. The NCLAT granted this request and permitted the parties to file the settlement. The matter has been adjourned and is now listed for the next hearing on November 19, 2026.

Topics: Insolvency Settlement, NCLAT Proceeding