Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 07.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard appeals in Company Appeal (AT) (Ins) No. 884 of 2026 filed by Indian Bank against Siddharth Gupta & Others, and Company Appeal (AT) (Ins) No. 813 of 2026 filed by Vehicle Recyclers India Pvt. Ltd. against the same respondents. The appeals involve insolvency proceedings, with Indian Bank and Vehicle Recyclers India Pvt. Ltd. as appellants. Counsel for all parties appeared and acknowledged receipt of notices. Through consensus between counsel for all parties, it was agreed that three appeals should be connected and disposed of by a common judgment: CA (AT) (Ins) No. 884 of 2026 (instant appeal), CA (AT) (Ins) No. 813 of 2026, and CA (AT) (Ins) No. 1583 of 2024.
Final Outcome
The tribunal granted respondents two weeks to file their reply, with an advance copy to appellant's counsel, who may then file a rejoinder within one week thereafter. The tribunal formally connected CA (AT) (Ins) No. 813 of 2026 and CA (AT) (Ins) No. 1583 of 2024 with the instant appeal (CA (AT) (Ins) No. 884 of 2026). Since pleadings in the two connected appeals are complete, no further opportunity for pleadings will be given in the instant appeal. All three connected appeals are scheduled for final hearing on July 28, 2026.
Topics: Insolvency Proceedings, Banking Litigation, NCLAT Appeals