Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 21st July, 2026
Case Overview
This order pertains to two connected Company Appeals (AT) (Insolvency) No. 861 of 2026 and No. 862 of 2026. The appellants are Kunj Bihari Steel Pvt. Ltd. and Sova Electrocasting Ltd., respectively. The respondent in both appeals is Mr. Sanjeev Kumar Jalan, the Resolution Professional (RP) of Ankit Metal & Power Ltd. The learned counsel for the RP submitted that the appellants had forwarded a proposal to settle the matter conclusively. An affidavit regarding this settlement proposal has been filed by the Resolution Professional.
Final Outcome
The NCLAT bench, comprising Officiating Chairperson Justice Yogesh Khanna and Members Barun Mitra and Ajai Das Mehrotra, directed that the affidavit filed by the RP be taken on record. The matter has been adjourned and is now listed for the next hearing on 16th September, 2026. In the interim period, the appellants were directed to provide necessary clarifications that were sought by the operational creditor.
Topics: Insolvency Resolution, Settlement Proposals