Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 03.07.2026
Case Overview
This matter is an appeal (Comp. App. (AT) (Ins) No. 184 of 2023) filed by the Greater Noida Industrial Development Authority (the Appellant) against Subhkamna Buildtech Pvt. Ltd. (the Corporate Debtor/Respondent). The case pertains to insolvency proceedings. The tribunal was informed that the parties involved had engaged in amicable settlement discussions but had failed to reach any agreement. Consequently, the appeal is to be decided on its own merits. The Learned Counsel for the Appellant concluded their arguments, but the Learned Counsel representing the Resolution Professional (RP) could not finish their submissions due to a lack of time.
Final Outcome
The tribunal adjourned the hearing and listed the case for the next date of hearing on 06.07.2026 at 2:00 PM. The bench issued a clear directive that the appeal shall not be adjourned further at the behest of either party. A specific order was given that the Interim Resolution Professional (IRP) or Resolution Professional (RP) of the Corporate Debtor must inform the Authorised Representative of the home buyers or financial creditors in a class to ensure their presence before the tribunal on the next date of listing.
Topics: Insolvency Appeal, Real Estate, Adjournment