Edelweiss ARC Assigned JM Financial Debt, NCLAT Adjourns

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

Order Date: 07.10.2026

Case Overview

This order concerns two connected appeals: Comp. App. (AT) (Ins) No. 1220 of 2026 (Siddhartha Bandyopadhyay vs. Company Ltd. & Ors. / J.M. Financial Asset Reconstruction) and Comp. App. (AT) (Ins) No. 1241 of 2026 & I.A. No. 5346 of 2026 (Abinandan Holdings Pvt. Ltd. vs. J.M. Financial Asset Reconstruction Company Ltd. & Anr.). During the hearing, counsel for Edelweiss Asset Reconstruction Company Ltd. submitted that the debt in question had been assigned to it by the original respondent, J.M. Financial Asset Reconstruction Company Ltd. Consequently, a request was made for Edelweiss to be impleaded as a respondent in the appeals.

Final Outcome

The NCLAT recorded that the counsel for the appellant raised no objection to the debt assignment or the request to implead Edelweiss. The appellant was directed to file an amended memo of parties to formally add Edelweiss as a respondent. Furthermore, a joint request for an adjournment was made by all parties present. The Tribunal granted the request and adjourned the hearing of the appeals. The matters are now listed for the next hearing on 25.11.2026.

Topics: Debt Assignment, NCLAT Proceeding