Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Order Date: 03.08.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard seven interconnected Company Appeals related to the insolvency proceedings of JSM Devcons Pvt. Ltd. The appeals, numbered 1526, 1307, 1314, 1315, 1316, 1317 of 2024, and 506 of 2025, were filed by various appellants against Chaya Gupta, the Resolution Professional for JSM Devcons Pvt. Ltd. The appellants include Sanjay Lunawat, Manikant Gupta, Gupta H.U.F. (through its Karta Manikant Gupta), Yashodhan Gupta (as a legal heir of Late Shri Premnath Gupta and in his own capacity), and The Electrical Equipment MFG and Testing Centre (through its sole proprietor Manikant Gupta). One appeal was filed by Dr. Chandrapal Dham against Chaya Gupta & Ors. All appeals challenge actions or decisions of the Resolution Professional in the corporate insolvency resolution process of JSM Devcons Pvt. Ltd.
Final Outcome
The NCLAT bench, comprising Justice Sharad Kumar Sharma (Member Judicial), Arun Baroka (Member Technical), and Indevar Pandey (Member Technical), issued a procedural order to adjourn all seven matters. The cases were listed for the next hearing on 18.09.2026. The order noted that appearances were not marked for either the appellants or the respondents during this hearing.
Topics: Insolvency, Adjournment