Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 16, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard connected appeals Comp. App. (AT) (Ins) No. 1038 of 2026 and Comp. App. (AT) (Ins) No. 1039 of 2026. The first appeal was filed by Pashupati Corporation, which had emerged as the successful bidder for Gouri Iron & Steel Pvt. Ltd., against Rakesh Dugar & Another. The second appeal was filed by Gouri Iron and Steel Pvt. Ltd. & Another against the same respondents. The tribunal heard arguments from learned counsel for both appellants and respondents but required additional factual clarification before proceeding with the final decision.
Final Outcome
The NCLAT adjourned the matter and directed the liquidator and the resolution professional (RP) to remain present personally, either physically or virtually, at the next hearing scheduled for October 28, 2026. The case was listed as the first matter on the board for that date. The bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Arun Baroka (Member-Technical) issued the order to obtain necessary clarifications before rendering a final decision on the appeals.
Topics: Insolvency Appeal, Corporate Acquisition, NCLAT Proceeding