Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 11 August 2026
Case Overview
This appeal was filed by Gulam Mustafa Enterprises Pvt Ltd (Appellant) against Piramal Enterprises Ltd (Respondent). The appeal is directed against an order passed in IA No.1088/2025 in CP(IB) No.48/BB/2023. The appellant had filed this interlocutory application seeking a direction for the respondent to issue a No Objection Certificate (NOC).
A significant development occurred while this appeal was pending: the appellant company, Gulam Mustafa Enterprises Pvt Ltd, was admitted into the Corporate Insolvency Resolution Process (CIRP). This admission was initiated at the instance of another Financial Creditor, not the respondent in this case. The appellant's counsel indicated they are in the process of challenging this CIRP admission order and requested that this appeal be taken up for admission along with another related appeal.
The respondent's counsel, Mr. AS Vishwajith, argued that given the appellant's admission into CIRP, the present appeal has become infructuous (no longer relevant or capable of achieving its purpose).
The Tribunal also addressed three interlocutory applications:
- IA No.1092/2026: Seeking condonation of 4-day delay - allowed
- IA No.1094/2026: Seeking condonation of 2-day delay in refiling - allowed
Final Outcome
The NCLAT Chennai Bench, comprising Justice N. Seshasayee (Member-Judicial) and Jatindranath Swain (Member-Technical), has listed the appeal for further hearing on 28 September 2026 under the same caption. The tribunal will consider the admission of the appeal alongside another appeal, despite the respondent's contention that the matter has become infructuous due to the appellant's entry into CIRP.
Topics: Corporate Insolvency, NCLAT Proceedings, No Objection Certificate Dispute