Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard six interconnected Company Appeals filed against the Resolution Professional (RP) of Indirapuram Habitat Centre Pvt. Ltd., Mr. Narender Kumar Sharma. The appeals challenge various aspects of the insolvency resolution process of the corporate debtor, Indirapuram Habitat Centre Pvt. Ltd.
The appellants include one individual, Sumitra Singhania, and five corporate entities: Privy Value Reality Pvt. Ltd., Glaze Pakagers Pvt. Ltd., Privy Capital Ltd., Privy Reality Ventures LLP, and LFS Services Pvt. Ltd. All appeals are directed against the same Resolution Professional, Mr. Narender Kumar Sharma, concerning the same corporate debtor.
Representation during the hearing varied by appeal. For Sumitra Singhania and LFS Services Pvt. Ltd., no advocate appeared for the appellants. For the other four corporate appellants (Privy Value Reality Pvt. Ltd., Glaze Pakagers Pvt. Ltd., Privy Capital Ltd., and Privy Reality Ventures LLP), Mr. Anurag Bhatt, Advocate, represented the appellants. For all respondents, Mr. Milan Singh Negi, Mr. Nikhil Kumar Jha, and Ms. Katyayani, Advocates, appeared for Respondent No. 1 (the Resolution Professional).
The bench comprised Justice Yogesh Khanna (Officiating Chairperson), Mr. Barun Mitra (Member Technical), and Mr. Ajai Das Mehrotra (Member Technical).
Final Outcome
The NCLAT issued a purely procedural order, adjourning all six interconnected appeals and their accompanying Interlocutory Applications (I.A. Nos. 877 of 2024, 7618 of 2025, 1926 of 2024, 7642 of 2025, 2297 of 2024, 7619 of 2025, 2177 of 2024, 7670 of 2025, 2179 of 2024, and 7643 of 2025) to 17 December 2026 for further hearing. No substantive rulings, observations, or decisions on the merits of the appeals were made in this order.
Topics: Insolvency Proceedings, NCLAT Adjournment, Corporate Litigation