Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 14 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard three interconnected insolvency appeals related to Lokshakti Sugar & Allied Industries Ltd. The appeals were Comp. App. (AT) (Ins) No. 1367 of 2025 (Twenty-One Sugars Ltd. vs. Charudutt Pandhrinath Marathe & Ors.), Comp. App. (AT) (Ins) No. 1216 of 2025 (Ampra Distilleries Pvt. Ltd. vs. Charudutt Pandharinath Marathe & Ors.), and Comp. App. (AT) (Ins) No. 1368 of 2025 (Twenty-One Sugars Ltd. vs. Charudutt Pandhrina Marathe & Ors.).
The appellants are Twenty-One Sugars Ltd and Ampra Distilleries Pvt. Ltd., while the respondents include Mr. Charudutt Pandhrinath Marathe in his capacity as the Resolution Professional of Lokshakti Sugar & Allied Industries Ltd, along with other parties. Multiple advocates represented the various parties: Mr. Atul Sharma and Mr. Pankaj Jain for Twenty-One Sugars Ltd; Mr. Rishabh Kumar for Ampra Distilleries Pvt. Ltd.; and Ms. Honey Satpal, Mr. Nipun Singhvi, Mr. Akash Agarwalla, Mr. Aman, Mr. Ishan Roy Chowdhury, Ms. Muskan Khatana, Mr. Alok Kumar, Ms. Parnika Jolly, and Mr. Tarun Kumar representing the different respondents.
The bench comprised Justice Mohammad Faiz Alam Khan (Member Judicial) and Naresh Salecha (Member Technical). The order was passed in hybrid mode.
Final Outcome
The NCLAT did not pass any substantive order on the merits of the cases. The bench noted "No time left" and adjourned all three appeals to July 31, 2026, for further hearing. No rulings on the underlying insolvency matters were made in this order.
Topics: Insolvency Proceedings, Corporate Litigation, Sugar Industry