Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 30 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1809 of 2026, an insolvency appeal filed by Catalyst Trusteeship Ltd. (Appellant) against Shobhit J. Rajan & Anr (Respondents). The appeal involves the suspended director of the corporate debtor (CD). Senior Counsel Arun Kathpalia represented the appellant, while Senior Counsel Sumant Batra represented Respondent No. 1, and Senior Counsel Krishnan Venugopal represented the Resolution Professional (RP).
During the hearing, all parties reached a consensus that the appeal should be finally disposed of at the admission stage without proceeding to a full trial. The respondents' counsel fairly submitted that they would not file a formal reply to the appeal and requested that reasonable time be granted for filing written submissions, which should be treated as their official reply.
Due to paucity of time, the arguments could not be concluded during the hearing session. The tribunal acknowledged the consensus between the parties and decided to proceed with final disposal of the appeal.
Final Outcome
The NCLAT adjourned the hearing and listed the appeal for further proceedings on October 5, 2026, at 12:00 PM. The tribunal directed the appellant to bring on record typed copies of the DTD (likely Debt Trustee Document) and other relevant documents, noting that the current copies appear to be illegible. The bench comprised Justice Mohammad Faiz Alam Khan (Member Judicial) and Naresh Salecha (Member Technical).
Topics: Insolvency Appeal, NCLAT Proceedings, Corporate Debtor