Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 16 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1531 of 2024, which is an appeal filed by the Securities and Exchange Board of India (SEBI) against Pancard Clubs Ltd. and Others. The matter was listed for hearing on July 16, 2026. The hearing was conducted in hybrid mode. Both parties were represented by legal counsel - SEBI by Mr. Abhishek Baid, Mr. Mohit Kumar Bafna, and Mr. Ravinder Kumar, while Pancard Clubs Ltd. and Others were represented by Mr. Mahesh Agarwal, Mr. Rishi Agarwala, Mr. Ankur Saigal, Mr. Shivam Shukla, and Mr. Kaustubh Singh. Additional representation was noted for Respondent 3 by Mr. Mohit D. Ram and Mr. Arnav Chaudhari. The bench comprised Justice Yogesh Khanna (Officiating Chairperson) and Barun Mitra (Member Technical).
Final Outcome
The NCLAT adjourned the appeal and listed it for the next hearing on August 24, 2026. The order is purely procedural and does not contain any substantive ruling on the merits of the case.
Topics: SEBI Appeal, NCLAT Proceeding