Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 25 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 566 of 2026, an insolvency appeal filed by Vishal Sharma, the Suspended Director of Hotel Horizon Pvt. Ltd., as the Appellant. The Respondents are a consortium comprising Oberoi Realty Ltd., Shree Aman Developers Pvt. Ltd., and JM Financial Properties and Holdings Ltd. along with Others. The appeal was presented before a bench consisting of Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical). Multiple advocates represented the parties: Mr. Abhishek Anand, Mr. Aditya Shukla, and Ms. Palak Kalra for the Appellant; Mr. Chitranshul A. Sinha, Mr. Shivam Shorewala, Ms. Rakshita Bhargava, and Ms. Esha Sharma for Respondent-3; Mr. Saurav Panda, Mr. Vaijayant Paliwal, Mr. Aditya Marwah, Ms. Snigdha Saraf, Ms. Shruti Poddar, and Ms. Aditi Roy for Respondent-2; and Mr. Vishnu Sriram, Mr. Ashwij Ramaiah, Ms. Shrishti Kapoor, Mr. Sagar Bansal, and Mr. Likheit Aggarwal for Respondent-1.
Final Outcome
The tribunal noted that no time was left for hearing the matter on August 25, 2026. Consequently, the appeal was adjourned and listed for the next hearing on September 8, 2026, at 3:00 PM. No substantive proceedings, arguments, or decisions on the merits of the case occurred during this hearing.
Topics: Insolvency Appeal, Real Estate Dispute, NCLAT Proceedings