Case Details
Case Name: Gujarat Industrial Development Corporation vs Divyesh Desai (Resolution Professional of GPT Steel Industries Ltd.) and Anr.
Court/Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Case Number: Company Appeal (AT) (Insolvency) No. 191 of 2026 & I.A. No. 700 of 2026
Hearing Date: May 15, 2026
Next Hearing Date: May 28, 2026
Parties Involved
Appellant: Gujarat Industrial Development Corporation
Respondents:
- Divyesh Desai (Resolution Professional of GPT Steel Industries Ltd.)
- Additional Respondent(s) not specifically named
Legal Representation:
- For Respondents: Mr. Tishampati Sen, Ms. Riddhi Sancheti, Mr. Anurag Anand and Mr. Mukul Kulhari, Advocates
- For Appellant: Present but appearance not marked
Procedural Order
The National Company Law Appellate Tribunal heard the matter on May 15, 2026 in hybrid mode. The tribunal scheduled the appeal for hearing on May 28, 2026, listing it high on board.
The tribunal issued the following directions:
- All parties including SRA (presumably Successful Resolution Applicant) are permitted to file their short notes of submissions of not more than two pages
- These submissions must be filed along with the judgments relied upon before the next date of hearing
- Learned counsel for the SRA prayed for and was allowed one-week time to file reply
The order was passed by Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).
Note: This order pertains to procedural scheduling only. The substantive issues, allegations, findings, and final ruling of the insolvency appeal are not addressed in this particular order.