Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 10 August 2026
Case Overview
This is an appeal (Comp. App. (AT) (Ins) No. 1453 of 2026) filed by Kumud Jain (Appellant) against Kotak Mahindra Bank Ltd. & Anr. (Respondents). The matter pertains to insolvency proceedings. The submissions from the Appellant's counsel, Mr. Ramji Srinivasan, Senior Advocate, could not be concluded due to a lack of time. The Appellant expressed concern that the Interim Resolution Professional (IRP) is in the process of constituting the Committee of Creditors (CoC) and argued that the Appellant would be prejudiced if the CoC is constituted before the appeal is heard.
Final Outcome
The Tribunal, comprising Justice Mohammad Faiz Alam Khan (Member - Judicial) and Mr. Naresh Salecha (Member - Technical), declined to pass any interim order at this stage. The bench held that an interim order could only be passed after providing a full opportunity of being heard to all parties, especially since Respondent No. 1 (Kotak Mahindra Bank Ltd.) was represented by its counsel, Mr. Sumant Batra, Senior Advocate. The matter was adjourned and listed for hearing on 11 August 2026 as the second case in the supplementary cause list.
Topics: Insolvency Appeal, Banking Dispute, NCLAT Proceeding