Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 13th August, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected insolvency appeals: Company Appeal (AT) (Insolvency) No. 1503 of 2025 (filed by Jatin Rajpal) and Company Appeal (AT) (Insolvency) No. 1505 of 2025 (filed by Ashok Rajpal). Both appellants are challenging proceedings where State Bank of India (SBI) is the first respondent, acting as a financial creditor in a corporate insolvency resolution process. The second respondent in both cases is the Resolution Professional. The appeals were presented before a bench consisting of Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical).
Final Outcome
The Tribunal did not issue any substantive ruling on the merits of the appeals. Instead, it adjourned both cases and listed them for the next hearing on 8th September, 2026. The order is purely procedural, providing only a new date for further proceedings.
Topics: Insolvency, Banking