Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 15 September 2026
Case Overview
This appeal was filed by Lalit Narware, former Director of Flexituff Technology International Limited, challenging an order dated 9 September 2026 passed by the National Company Law Tribunal (NCLT), Indore Bench, Court No. 1. The NCLT had admitted an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) against the appellant company. The appellant's counsel submitted that the amount payable under Part-IV of the application was ₹1,14,70,580 and expressed willingness to deposit this entire amount in the form of a Fixed Deposit Receipt (FDR) in the name of the "Registrar, National Company Law Appellate Tribunal, New Delhi" without prejudice to their legal contentions. The deposit was promised to be made positively by 18 September 2026.
Final Outcome
The NCLAT, presided over by Officiating Chairperson Justice Yogesh Khanna and Member (Technical) Barun Mitra, granted a stay on the impugned NCLT order until further orders. The tribunal directed that the FDR be deposited on or before 18 September 2026 and explicitly instructed the Resolution Professional to refrain from taking any further steps in the matter. The appeal was listed for next hearing on 30 September 2026.
Topics: Insolvency Proceedings, Corporate Legal Dispute