Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 30 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard Company Appeal (AT) (Insolvency) No. 1366 of 2026. The appeal was filed by Aayush Prashant Agarwal, the Suspended Director of Epic Yarns Pvt. Ltd., against respondents Uma Exports Ltd. and another unnamed party. The nature of the underlying insolvency proceedings against Epic Yarns Pvt. Ltd. is not detailed in this procedural order. During the hearing, learned counsel for the appellant informed the tribunal that settlement talks between the parties are currently underway.
Final Outcome
The NCLAT bench, comprising Justice Yogesh Khanna (The Officiating Chairperson) and members Barun Mitra and Ajai Das Mehrotra, issued formal notice to the respondents. The tribunal directed the respondents to file their reply within four weeks from the order date (by approximately 27 August 2026). The appellant is required to file a rejoinder within two weeks after receiving the respondents' reply (by approximately 10 September 2026). The appeal has been adjourned and is scheduled for its next hearing on 28 September 2026, pending the outcome of the settlement discussions between the parties.
Topics: Insolvency Appeal, Settlement Negotiations, Corporate Litigation