Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 03.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins.) No. 549 of 2021 along with I.A. No. 1638 of 2021, an appeal filed by Shalibadhra Exports Pvt. Ltd. against respondents including Nandkishor Vishnupant Deshpande, the Resolution Professional for Royal Refinery Pvt. Ltd. The matter involves insolvency proceedings related to Royal Refinery Pvt. Ltd.
During the hearing, the respondent's counsel submitted that they had not received a copy of the delay condonation application (I.A. No. 1638 of 2021) filed by the appellant. The tribunal noted this submission and issued procedural directions.
Final Outcome
The NCLAT directed the appellant's counsel to provide a copy of the delay condonation application to the respondent's counsel. The respondent was granted one week to file a response to this application, if they wish to do so, and serve a copy to the appellant. The appellant may file a rejoinder within the following week if desired.
Additionally, the tribunal directed the liquidator to file an appropriate affidavit regarding the status of money recovery from the appellant and the status of the PUFE (Preferential, Undervalued, Fraudulent, Extortionate) application before the next hearing date.
The matter has been adjourned and listed for next hearing on July 24, 2026.
Topics: Insolvency Appeal, Procedural Hearing, NCLAT