Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 28 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard three interconnected company appeals related to insolvency proceedings:
1. Company Appeal (AT) (Insolvency) No. 982 of 2026 with I.A. No. 3898 and 3899 of 2026: Mehul Sedani (Successful Resolution Applicant of Grey's Exim Pvt. Ltd.) vs. Prashant Jain (Resolution Professional of Grey's Exim Pvt. Ltd.) & Others
2. Company Appeal (AT) (Insolvency) No. 983 of 2026 with I.A. No. 3905 and 7635 of 2026: Mehul Sedani (Successful Resolution Applicant of Grey's Exim Pvt. Ltd.) vs. Prashant Jain (Erstwhile Resolution Professional of Grey's Exim Pvt. Ltd.) & Others
3. Company Appeal (AT) (Insolvency) No. 1108 of 2026 with I.A. No. 4106, 4335, and 4724 of 2026: Mehul Sedani (Successful Resolution Applicant of Libra Fabric Designs Private Limited) vs. Truvisory Insolvency Professional Pvt. Ltd. (Resolution Professional of Libra Fabric Designs Pvt. Ltd.) & Others
The appeals challenge actions of the Resolution Professionals in their respective corporate insolvency resolution processes. Mehul Sedani appears as the Successful Resolution Applicant for both corporate debtors - Grey's Exim Pvt. Ltd. and Libra Fabric Designs Private Limited.
Final Outcome
The bench comprising Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member Technical) adjourned all three appeals to 16 December 2026 due to the unavailability of the appellant's counsel (Ms. Anjali Maurya). The order was passed in hybrid mode. No substantive hearing or decision on merits occurred.
Topics: Insolvency Appeals, NCLAT Proceedings, Resolution Professional Disputes