Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Order Date: 20.08.2026
Case Overview
The order pertains to three interconnected Company Appeals filed under the Insolvency and Bankruptcy Code:
1. Company Appeal (AT) (Insolvency) No. 1028 of 2026: Filed by Catalyst Trusteeship Ltd. (Appellant) against Neelkanth Realtors Ltd. & Anr. (Respondents).
2. Company Appeal (AT) (Insolvency) No. 987 of 2026: Filed by Bhavik Bhimjyani (Appellant) against Catalyst Trusteeship Ltd. & Anr. (Respondents). This appeal includes Interlocutory Applications No. 3931, 5376, and 5377 of 2026.
3. Company Appeal (AT) (Insolvency) No. 988 of 2026: Filed by Neelkanth Realtors Ltd. (Appellant) against Catalyst Trusteeship Ltd. & Anr. (Respondents). This appeal includes Interlocutory Applications No. 5378 and 5379 of 2026.
The legal representation for Catalyst Trusteeship Ltd. was Mr. Varun Kalra and Mr. Pranav Khanna, Advocates. The representation for Neelkanth Realtors Ltd. and Bhavik Bhimjyani was Mr. Abhijeet Sinha, Senior Advocate, along with Mr. Vishesh Kalra, Mr. Meghal Pancholi, and Ms. Simran Shadija, Advocates. Ms. Abha Patel, Mr. Urvaksh Baria, and Mr. Snehal Kandar, Advocates, were also noted as present. The nature of the dispute involves challenges to an order from the National Company Law Tribunal (NCLT) related to the Corporate Insolvency Resolution Process (CIRP) of Neelkanth Realtors Ltd.
Final Outcome
The bench, comprising Justice Yogesh Khanna (The Officiating Chairperson) and Ajai Das Mehrotra (Member (Technical)), did not rule on the merits of the appeals. The tribunal adjourned the hearing of all connected appeals and applications. The matters are now listed to be heard again on 29.09.2026. The interim order that was previously passed by the tribunal will remain in effect and continue until the next date of hearing.
Topics: Insolvency Appeal, Adjournment, Interim Order