Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 22nd September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected company appeals along with their interim applications filed by Maruti Koatsu Cylinders Ltd. The first appeal, Company Appeal (AT) (Insolvency) No. 1516 of 2025 with I.A. No. 5842 of 2025, was filed against Kotak Mahindra Bank Ltd. & Others. The second appeal, Company Appeal (AT) (Insolvency) No. 1517 of 2025 with I.A. No. 5844 of 2025, was filed against Asset Reconstruction Company of India & Others. The bench was composed of Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member - Technical).
Final Outcome
The Tribunal noted that all respondents had been served through publication as stated in an affidavit dated 22nd August 2026. Since none of the respondents appeared despite service, the Tribunal proceeded ex-parte against them. Both appeals and their interim applications were adjourned and listed for the next hearing on 18th November 2026.
Topics: Insolvency Appeal, NCLAT Proceedings, Corporate Debt