Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 14.09.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard multiple interconnected appeals related to the insolvency proceedings of Ajnara Realtech Ltd. The appeals include Comp. App. (AT) (Ins) No. 881 of 2024 with several interlocutory applications (I.A. No. 3180, 3181, 3787, 6926 of 2024) filed by Vinod Kumar Jha, Directors (Powers Suspended) of Ajnara Realtech Ltd., against Sachin Dhiman & Others. A connected appeal, Comp. App. (AT) (Ins) No. 1333 of 2024 with I.A. No. 4836 of 2024, was filed by Lee Garden Ph 3 Welfare Society (through its President, Mr. Kishlaya Deb Purkayastha) against Ajnara Real Tech Ltd. & Others.
Multiple legal representatives appeared for the parties: Mr. Siddharth Bhatli and others for the suspended directors; Mr. Vaibhav Shahi and Mr. Shubham Mishra for the Interim Resolution Professional (IRP); Mr. MP Sahay and others for Respondent-1; Mr. Joel and Ujjval Gupta for an applicant in one of the interlocutory applications; and Mr. Rohit Rajershi and others for unspecified parties. In the connected appeal, Mr. Joel and others appeared for the welfare society, while Mr. Vaibhav Shahi and Mr. Shubham Mishra again represented the IRP.
Final Outcome
The two-member bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical) adjourned the hearing of all appeals, citing "No time left." The matters have been listed for next hearing on October 16, 2026. The order was passed in hybrid mode, indicating both physical and virtual participation.
Topics: Corporate Insolvency, Real Estate Dispute, Legal Adjournment