Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 16 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard multiple connected appeals related to insolvency proceedings involving Ajnara Realtech Ltd. The appeals comprise Company Appeal (AT) (Ins.) No. 881 of 2024 with several interlocutory applications (I.A. No. 3180, 3181, 3787, 6926 of 2024) and Company Appeal (AT) (Ins.) No. 1333 of 2024 with I.A. No. 4836 of 2024.
The first appeal was filed by Vinod Kumar Jha, identified as a Director (Powers Suspended) of Ajnara Realtech Ltd., against respondents including Sachin Dhiman & Others. The second appeal was filed by Lee Garden Phase 3 Welfare Society through its President, Mr. Kishlaya Deb Purkayastha, against Ajnara Real Tech Ltd. & Others.
Multiple legal representatives appeared for various parties including the appellant suspended director, the Interim Resolution Professional (IRP), homebuyers of HIJO project, and other respondents. The matter was heard in hybrid mode.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Arun Baroka (Member Technical) adjourned the hearing of all appeals to December 1, 2026, as requested by learned counsel for the parties. No substantive rulings or decisions on the merits of the case were made in this order.
Topics: Insolvency Proceedings, Real Estate Dispute, Corporate Litigation