Key Development
The National Company Law Appellate Tribunal, New Delhi Bench (NCLAT) issued an order dated May 26, 2026 that:
- Allows the appeal filed against the order dated February 16, 2026 passed by the National Company Law Tribunal, Mumbai (NCLT)
- The appeal was in the contempt matter pertaining to the release/disbursal of non-fund-based limits to the Company
NCLAT Directions
- The Company is permitted to request release/disbursal of NFB Limits from the appellant banks
- The appellant banks are directed to cooperate with the Company and respond to the Company within one month of receipt of such request
- The Company is granted liberty to revive its contempt application before the NCLT if it is aggrieved by the response of the appellant banks