Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: July 31, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1275 of 2026 along with I.A. No. 4950 of 2026. The appeal was filed by Neetu Punit Agarwal (Appellant) against Central Bank of India & Others (Respondents). The proceedings involve applications under Sections 94 and 95 of the Insolvency and Bankruptcy Code. The background reveals that Respondent No. 1 (Central Bank of India) had earlier moved a Section 95 application before the Adjudicating Authority, which was dismissed for default. The bank's subsequent restoration application for recalling the dismissal order was also dismissed. Following these dismissals, the Appellant filed a Section 94 application, leading to the current appeal.
During the hearing, counsel for the Appellant requested that the delay condonation application be heard immediately. However, counsel for Respondent No. 1 requested an adjournment, citing that the bank has filed its own appeal which is currently pending scrutiny before the NCLAT Registry.
Final Outcome
The NCLAT bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical), adjourned the matter. The appeal is now listed for hearing on August 11, 2026. The adjournment was granted due to the pending related appeal filed by Central Bank of India that is under scrutiny by the Registry.
Topics: Insolvency Appeal, Adjournment