Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 14 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard matters related to two connected insolvency appeals: Comp. App. (AT) (Ins) No. 518 of 2025 and Comp. App. (AT) (Ins) No. 517 of 2025. The appellants are Santosh Kumar (in case No. 518) and Udaivir Anand (in case No. 517), both appealing against IDBI Trusteeship Services Pvt. Ltd. and another respondent. The proceedings involved multiple interlocutory applications (I.A. Nos. 1976, 1977, 1978, 3250 of 2025 & 3274, 5865 of 2026 in case No. 518; and I.A. Nos. 1973, 1974, 1975, 3232, 3249 of 2025 in case No. 517). Representation included Mr. Ramji Srinivasan, Senior Advocate appearing for appellant Santosh Kumar, along with other advocates. For respondents, Mr. Sanjeev Sharma and others appeared for Respondent-1 (IDBI Trusteeship), while Mr. Rachit Rajan appeared for the IRP (Interim Resolution Professional) and Mr. Bhavya Khatreja for R-2/RP (Resolution Professional).
Final Outcome
The NCLAT bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Mr. Naresh Salecha (Member-Technical), adjourned the hearing of I.A. No. 3274 of 2026 and I.A. No. 5865 of 2026 in Comp. App. (AT) (Ins) No. 518 of 2025 to September 15, 2026, listing it as the first case for the appellant's rejoinder arguments. The bench specifically requested the appellant's counsel to conclude his rebuttal submissions on the next date to ensure compliance with the orders of the Supreme Court of India at the earliest.
Topics: NCLAT Proceedings, Insolvency Appeal, Adjournment