Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 13, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard three connected appeals related to the insolvency proceedings of Lokshakti Sugar & Allied Industries Ltd. The appeals were filed by Twenty-One Sugars Ltd (in two separate appeals) and Ampra Distilleries Pvt. Ltd. against Charudutt Pandhrinath Marathe, the Resolution Professional of Lokshakti Sugar & Allied Industries Ltd., and other respondents. The appeals were listed as Comp. App. (AT) (Ins) No. 1367 of 2025, Comp. App. (AT) (Ins) No. 1216 of 2025 with I.A. No. 4751 of 2025, and Comp. App. (AT) (Ins) No. 1368 of 2025 with I.A. No. 5350, 5352 of 2025. The bench consisted of Justice Mohammad Faiz Alam Khan (Member Judicial) and Naresh Salecha (Member Technical).
Final Outcome
The tribunal adjourned all appeals and listed them for hearing on November 30, 2026, citing "No time left" on the current hearing date. The order was passed in hybrid mode.
Topics: Insolvency Appeals, Corporate Litigation, Sugar Industry