Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 06.11.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected insolvency appeals. Company Appeal (AT) (Insolvency) No. 1576 of 2026 is between Next Orbit Venture Fund (Appellant) and Bank of India (Respondent). Company Appeal (AT) (Insolvency) No. 1847 of 2026 & I.A. No. 7028 of 2026 is between Beacon Realcon Pvt. Ltd. & Ors. (Appellants) and Bank of India & Ors (Respondents). The proceedings are insolvency-related matters currently at the appellate stage.
The counsel for Respondent Bank of India sought additional time to file their reply in the first appeal. The Resolution Professional informed the tribunal that they had already filed a Status Report.
Final Outcome
The NCLAT granted Bank of India three weeks from November 6, 2026, to file their reply. The appellant was given three weeks thereafter to file a rejoinder. The Resolution Professional's Status Report is to be shared with the appellant's counsel, and the appellant must file a response to this report within three weeks. The interim order currently in place will continue until the next hearing. Both appeals have been adjourned and listed for next hearing on January 20, 2027.
Topics: Insolvency Appeal, NCLAT Proceeding, Bank Litigation