Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 20 August 2026
Case Overview
This order pertains to Interlocutory Application No. 4727 of 2026 within Company Appeal (AT) (Insolvency) No. 1820 of 2025. The matter involves JFC Finance (India) Ltd. as the Appellant and Arvind Garg & Others as Respondents. The proceedings concern an insolvency-related appeal. During the hearing, Shri Gopal Jain, learned senior counsel appearing for the Committee of Creditors (CoC), submitted that his previous statement had been incorrectly recorded in the order dated 20 July 2026 regarding interest payment obligations. The earlier order stated that interest would be paid "from the date of its deposit till realization," but counsel clarified that the CoC actually intends to pay interest from the date of auction instead.
Shri Gaurav Mitra, learned senior counsel for the Respondents, objected to this submission regarding the interest calculation amendment. The Respondents stated they are solely interested in the withdrawal of their money and nothing beyond that.
Final Outcome
The Tribunal, comprising Justice Yogesh Khanna (Officiating Chairperson) and Ajai Das Mehrotra (Member Technical), adjourned the matter and listed this application along with I.A. Nos. 5387 of 2026, 5877 of 2026, and 5918 of 2026 for further orders on 11 September 2026. The substantive issue regarding the correct calculation period for interest payments remains unresolved and will be addressed in the subsequent hearing.
Topics: Insolvency Proceedings, Interest Payment Dispute, NCLAT Hearing