Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 22nd September, 2026
Case Overview
The order pertains to two connected Company Appeals: Company Appeal (AT) (Insolvency) No. 982 of 2026 (with I.A. No. 3898 & 3899 of 2026) and Company Appeal (AT) (Insolvency) No. 983 of 2026 (with I.A. No. 3905 of 2026). The appellant in both appeals is Mehul Sedani, who is identified as the Successful Resolution Applicant for the Corporate Debtor, Grey's Exim Pvt. Ltd. The respondents include Prashant Jain, who is described as both the Resolution Professional and the Erstwhile Resolution Professional for Grey's Exim Pvt. Ltd., among others. The appeals arise from proceedings under the Insolvency and Bankruptcy Code, 2016.
Final Outcome
The Tribunal issued a procedural order adjourning the hearing. The adjournment was granted because the learned arguing counsel for the appellant was not available. The learned counsel appearing for the liquidator indicated an intention to file a reply. The NCLAT directed that this reply be filed within four weeks from the order date (22.09.2026). Consequently, both appeals have been listed for their next hearing on 28th October, 2026. The order was passed by a bench consisting of Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member (Technical)).
Topics: Insolvency, Legal Proceedings