Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: October 8, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) was hearing two connected insolvency appeals: Company Appeal (AT) (Insolvency) No. 1191 of 2024, involving Shri Babulal G. Jain as the Respondent, and Company Appeal (AT) (Insolvency) No. 1195 of 2024, where Indian Bank is the Appellant versus Shri Kartik Babulal Jain as the Respondent. The appeals are related to insolvency proceedings. Counsel Mr. Aditya Kumar Gupta was present for the Appellant(s) in both matters, while no one appeared for the Respondent(s).
Final Outcome
The three-member bench, comprising Justice Sharad Kumar Sharma (Member-Judicial), Arun Baroka (Member-Technical), and Indevar Pandey (Member-Technical), did not conduct any substantive hearing. The order states that due to a paucity of time, the matters could not be taken up. The tribunal adjourned both appeals and listed them for the next hearing on November 27, 2026.
Topics: Insolvency, Banking Litigation, NCLAT