Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15th September, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard five interconnected company appeals related to insolvency matters. The appeals involve multiple parties including State Bank of India (Appellant in Appeals No. 1514 and 1515 of 2026), Adone Hotels & Hospitality Ltd. (formerly DLF Hilton Hotels Ltd., Appellant in Appeals No. 1516 and 1517 of 2026), and Kolkata Municipal Corporation (Appellant in Appeal No. 1659 of 2026). The common respondent across most appeals is Ajay Kumar Agarwal, who appears to be the Resolution Professional for Avani Projects & Infrastructure Ltd.
Multiple senior advocates represented the various parties: Mr. Arun Kathpalia and Mr. Amir Prasad represented State Bank of India; Mr. P. Nagesh represented respondents in multiple appeals; Mr. Abhijeet Sinha represented Respondent-1 (Ajay Kumar Agarwal) across several appeals; Mr. Krishnendu Dutta represented Respondent-2 and Respondent-3 in various appeals; and Mr. Rana Mukherjee represented Kolkata Municipal Corporation.
The nature of the proceedings involves insolvency matters, though the specific allegations, disputes, or legal questions are not detailed in this procedural order. The appeals were listed together for hearing, indicating interconnected matters likely related to the corporate insolvency resolution process of Avani Projects & Infrastructure Ltd.
Final Outcome
The NCLAT Bench comprising Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member Technical) adjourned all five appeals to 17th September, 2026 for further hearing. The appeals will be listed in the supplementary list on that date. No substantive rulings, observations, or directions were issued in this order, which serves purely as a procedural adjournment maintaining the status quo until the next hearing date.
Topics: Insolvency Proceedings, Corporate Litigation, Banking Disputes