Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two interconnected insolvency appeals: Company Appeal (AT) (Insolvency) No. 1550 of 2026 and Company Appeal (AT) (Insolvency) No. 1551 of 2026. The appeals were filed by Consortium of SSR Townships Pvt Ltd and Sanjeev Mitla (Appellants) against Manoj Kulshrestha & Anr. (Respondents).
During the proceedings, counsel for Intervener Mahalaxmi Buildtech Limited (in consortium with Sagarmanthan Enterprises Private Limited) indicated they had filed an intervention application with Diary No.70698 of 2026 in Appeal No. 1551 of 2026, which remained pending. Other parties confirmed they had not received copies of this application. The Tribunal noted that an ad-interim stay order had been operating in both appeals since 24 August 2026, and respondents had filed their replies.
Final Outcome
The Tribunal directed Mahalaxmi Buildtech Limited to provide copies of their intervention application to all parties involved in Appeal No. 1551 of 2026. The interim stay applications (I.A. No.5948 of 2026 in Appeal No. 1550 and I.A. No.5952 of 2026 in Appeal No. 1551) were directed to be listed for disposal on the next hearing date. The appellants were granted five days to file a rejoinder. Both appeals were adjourned to 24 September 2026 and will be listed among the first five cases of the cause list. The interim stay order dated 24 August 2026 will continue until the next hearing.
Topics: Insolvency Proceedings, NCLAT Hearing, Interim Stay