Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: September 8, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected insolvency appeals: Comp. App. (AT) (Ins) No. 518 of 2025 (Santosh Kumar vs. IDBI Trusteeship Services P. Ltd. & Anr.) and Comp. App. (AT) (Ins) No. 517 of 2025 (Udaivir Anand vs. IDBI Trusteeship Services P. Ltd. & Anr.). Multiple interim applications were also pending in these appeals: I.A. No. 1976, 1977, 1978, 3250 of 2025 & 3274, 5865 of 2026 in the first appeal, and I.A. No. 1973, 1974, 1975, 3232, 3249 of 2025 in the second appeal.
During the hearing, Shri Arun Kathpalia, Learned Senior Counsel for Respondent No. 1/RP, and the IRP had concluded their submissions. However, Shri Ramji Srinivasan, Learned Senior Counsel for the applicant Rajinder Singh in IA No. 3274 of 2026, requested an adjournment due to his commitment before the Hon'ble Supreme Court later that day and unavailability the following day. Similarly, counsel for appellant Santosh Kumar stated that their Senior Counsel Mr. Krishnendu Datta was unavailable for argument on that day and the next day.
Final Outcome
The NCLAT bench, comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Mr. Naresh Salecha (Member Technical), granted the adjournment requests. All matters - IA No. 3274 of 2026, I.A. No. 5865 of 2026, and both appeals (Comp. App. (AT) (Ins) No. 518 of 2025 and Comp. App. (AT) (Ins) No. 517 of 2025) - were adjourned to September 14, 2026, to be listed as the first case on the board.
Topics: Insolvency Proceedings, NCLAT Hearing, Adjournment