Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 10 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1453 of 2026, an appeal filed by Kumud Jain against Kotak Mahindra Bank Ltd. and another respondent. The matter involves insolvency proceedings where an Interim Resolution Professional (IRP) is in the process of constituting a Committee of Creditors (CoC). During the hearing, the appellant's senior counsel, Mr. Ramji Srinivasan, expressed concern that if the CoC is constituted, the appellant would be prejudiced. The respondent bank was represented by senior counsel Mr. Sumant Batra.
Final Outcome
The tribunal declined to pass any interim order at this stage, noting that such an order could only be passed after providing a proper opportunity of being heard to all parties. The hearing could not be concluded due to paucity of time as the court's schedule was allocated to different cases after lunch. The matter has been listed for further hearing on 11 August 2026 as the second case in the supplementary cause list.
Topics: Insolvency Proceedings, Banking Dispute, NCLAT Hearing