Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected insolvency appeals: Comp. App. (AT) (Ins) No. 563 of 2023 filed by First Choice Properties (India) Pvt. Ltd. against Gstaad Hotels Pvt. Ltd. & Anr., and Comp. App. (AT) (Ins) No. 564 of 2023 filed by Sachana Exports Pvt. Ltd. against the same respondents. The appeals were presented before a bench comprising Justice Mohammad Faiz Alam Khan (Member - Judicial) and Mr. Naresh Salecha (Member - Technical). Mr. Vaibhav Gaggar, Senior Advocate, represented the appellants along with Mr. Shreeyash Lalit and Mr. Himanshu Vats. Mr. Jayesh Sanghrajka appeared for the Resolution Professional (RP).
Final Outcome
The NCLAT adjourned both appeals to August 3, 2026, based on a joint request made by the learned counsel for all parties involved. The order was passed in hybrid mode, indicating the hearing accommodated both physical and virtual participation.
Topics: Insolvency Appeals, NCLAT Proceedings, Corporate Litigation