Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 01.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1426 of 2023 along with I.A. No. 4536 of 2025. The appeal was filed by Chandrakant Bhansali (Appellant) against C Bhansali Developers Pvt. Ltd. & Anr. (Respondents). The matter concerns insolvency proceedings, though the specific nature of the dispute is not detailed in this procedural order.
During the hearing, counsel for both the Appellant and Respondent No. 2 jointly informed the tribunal that the parties were in the final stages of negotiating an amicable settlement. The terms of this settlement were yet to be formally documented in writing.
Final Outcome
The NCLAT bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Mr. Naresh Salecha (Member-Technical), acknowledged the settlement progress. The matter was adjourned and listed for the next hearing on 14.07.2026 to allow the parties a period of fourteen days to finalize and present the written settlement terms before the Appellate Tribunal for its consideration.
Topics: Insolvency Settlement, NCLAT Proceeding