Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi

Order Date: 20 August 2026

Case Overview

This order pertains to two connected Company Appeals (AT) (Insolvency) No. 1195 and 1196 of 2026, filed by appellants Dimple N. Hemani and Nilesh C Hemani, respectively. The appeals are directed against Respondents Central Bank of India & Anr. The matter arises from an order dated 25 February 2026 passed by the National Company Law Tribunal (NCLT), which admitted an insolvency petition filed by Central Bank of India. The appellants, represented by a team of advocates including Mr. Samar Bansal, are challenging this admission. The primary issue before the NCLAT in this hearing was not the merits of the insolvency petition itself but a procedural application (I.A. No.4629 of 2026) filed for the condonation of a 19-day delay in filing the appeal.

The appellants' counsel argued that there was, in substance, no delay. Their contention is that the NCLT's order of 25 February 2026 was only an order for admission, with a notation that a detailed order would follow. They alleged that this detailed order was not uploaded on the pronouncement date, depriving them of the opportunity to seek a certified copy and file an appeal. The appellants stated they received an email on 26 March 2026 notifying them that the impugned order had been uploaded. They subsequently applied for and obtained the certified copy and filed the appeal within the permissible time from that date. The respondent, Central Bank of India, represented by Mr. Prathmesh Nirkhe, was present and raised a formal objection to the application for condonation of delay.

Final Outcome

The NCLAT bench, comprising Justice Yogesh Khanna (The Officiating Chairperson) and Mr. Ajai Das Mehrotra (Member (Technical)), did not rule on the merits of the delay condonation application. The tribunal issued a formal notice on the application (I.A. No.4629 of 2026). It directed the respondent to file a reply to the condonation application within one week from the order date (20 August 2026). The appellant is to file a rejoinder to that reply within the following week. The appeal has been listed for its next hearing on 14 September 2026. The final outcome regarding the admission of the appeal is therefore pending and contingent upon the tribunal's decision on the delay condonation application.

Topics: Insolvency Appeal, Procedural Delay, NCLAT