Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15th October, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected insolvency appeals: Comp. App. (AT) (Ins) No. 1175 of 2026 filed by Vinod Doulatani and Comp. App. (AT) (Ins) No. 1176 of 2026 filed by Haresh Doulatani. Both appellants are appealing against IIFL One Value Fund – Series B (a scheme under IIFL Alternative PE Fund) through IIFL Management Services Ltd. (Investment Manager) and another respondent. The appeals challenge a previous order from the National Company Law Tribunal (NCLT) regarding the IIFL Alternative PE Fund's Series B scheme. The matter involves insolvency proceedings under the Insolvency and Bankruptcy Code.
Senior advocates represented both parties: Mr. Neeraj Malhotra (with Mr. Aditya Bharat, Mr. Harsh Gurbani, Mr. K. Shah, Mr. Shamart Sethiya, and Ms. Tanishka Grover) for the appellants, and Mr. Gopal Jain (with Ms. Priyanka Vora and Mr. Aratrika Brahma Chari) for respondent No. 1 (IIFL One Value Fund).
Final Outcome
The three-member bench, comprising Justice Yogesh Khanna (The Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical), adjourned the hearing. The matter was listed for further hearing on 16th October, 2026 at 12:00 PM. No substantive decision was made in this order, which serves solely as a procedural adjournment.
Topics: NCLAT Proceedings, Insolvency Appeal, Alternative Investment Funds