Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 30.07.2026
Case Overview
This is an appeal (CA (AT) (Ins) No. 1373 of 2026) filed by Gopal Lohia, a suspended director of Citron Infraprojects Ltd., against Canara Bank and another respondent. The appeal arises from proceedings under the Insolvency and Bankruptcy Code (IBC). The appellant, represented by Senior Advocate Mr. Abhijeet Sinha, sought an interim order from the Tribunal. The order references related appeals (CA (AT) (Ins) No. 1933 of 2025 and CA (AT) (Ins) No. 1934 of 2025) which are pending before Bench No. I and pertain to an order from the Adjudicating Authority in IA No. 2508 of 2025 concerning Sections 66 and 67 of the IBC in relation to a principal borrower.
The Tribunal, after hearing the appellant's counsel and perusing the record, decided that the request for an interim order requires consideration after providing the respondents an opportunity to be heard.
Final Outcome
The NCLAT issued formal notice to the respondents (Canara Bank & Anr.) regarding both the main appeal and the stay application. The appellant was granted liberty to serve the respondents Dasti (by hand). The appellant is required to complete all necessary steps along with process fee and requisites within 48 hours. Furthermore, the Tribunal directed its Registry to place the record of this appeal before the Hon'ble Officiating Chairperson for an appropriate order to ensure that this appeal and the two related appeals (1933/2025 and 1934/2025) are heard by the same bench. The case is now listed for the next hearing on 11.08.2026.
Topics: Insolvency Appeal, NCLAT Procedure, Director Liability