Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 23 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard Comp. App. (AT) (Ins) No. 356 of 2026, an insolvency appeal filed by Umang Haribhai Thakkar, the suspended director of Dharmadev Infrastructure Ltd., against UG Fincon Advisors LLP and another respondent. The matter was presented before a bench consisting of Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical). During the hearing, counsel for the appellant informed the tribunal that the parties are attempting to settle the matter out of court.
Final Outcome
The NCLAT adjourned the hearing to 16th September 2026 to allow the parties to continue settlement discussions. The tribunal ordered that the existing interim order shall continue to remain in effect until the next hearing date. The case will be listed for further proceedings on the adjourned date.
Topics: Insolvency Proceedings, Corporate Litigation, Settlement Negotiations