Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 15, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Company Appeal (AT) (Ins.) No. 1980 of 2026 filed by Kumar Abhijeet Sahoo, suspended director of Nilachakra Metal Processors Pvt. Ltd., against Soubhagya Minerals and another respondent. The appeal appears to challenge corporate insolvency proceedings against the company. The tribunal heard arguments from Senior Advocate Mr. Krishnendu Datta representing the appellant, Mr. Saroj Prusty for the Operational Creditor, and Mr. Shubham Agrawal for the Resolution Professional.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Arun Baroka (Member Technical) adjourned the matter to October 28, 2026. The tribunal directed the respondents to file their reply to both the appeal and the stay application by October 27, 2026, with an advance copy to be provided to the appellant's counsel by October 25, 2026. The appellant was granted permission to file a rejoinder within three days after receiving the respondents' reply.
Topics: Insolvency Proceedings, Legal Appeal, Corporate Governance