Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 03.08.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench, comprising Justice Sharad Kumar Sharma (Member Judicial), Arun Baroka (Member Technical), and Indevar Pandey (Member Technical), heard seven interconnected company appeals related to the insolvency proceedings of JSM Devcons Pvt. Ltd. The appeals challenge actions and decisions of the Resolution Professional, Chaya Gupta, who is overseeing the corporate insolvency resolution process of the company.
The appellants include multiple parties: Sanjay Lunawat (Company Appeal No. 1526 of 2024), Manikant Gupta (Company Appeal No. 1307 of 2024), Gupta H.U.F. Through Its Karta Manikant Gupta (Company Appeal No. 1314 of 2024), Yashodhan Gupta as Legal Heir of Late Shri Premnath Gupta (Company Appeal No. 1315 of 2024), Yashodhan Gupta in personal capacity (Company Appeal No. 1316 of 2024), The Electrical Equipment MFG and Testing Centre Through Its Sole Proprietor Manikant Gupta (Company Appeal No. 1317 of 2024), and Dr. Chandrapal Dham (Company Appeal No. 506 of 2025). All appeals are directed against Resolution Professional Chaya Gupta and other respondents involved in the JSM Devcons insolvency process.
The proceedings were conducted in hybrid mode, though specific appearances for appellants and respondents were not marked in the order. The nature of the disputes appears to involve challenges to the resolution professional's conduct or decisions in the corporate insolvency resolution process.
Final Outcome
The NCLAT bench adjourned all seven interconnected matters and listed them for next hearing on September 18, 2026. No substantive decisions were made in this order, which serves purely as a procedural adjournment to a future date.
Topics: Insolvency Proceedings, NCLAT Appeals, Corporate Resolution Process