Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 01.09.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) is hearing three consolidated insolvency appeals filed by major financial institutions against Dr. Subhash Chandra and another respondent. The appeals are: Company Appeal (AT) (Insolvency) No. 1613 of 2026 (Union Bank of India (UK) Ltd vs. Subhash Chandra & Anr.), Company Appeal (AT) (Insolvency) No. 1615 of 2026 (Canara Bank vs. Dr. Subhash Chandra and Anr.), and Company Appeal (AT) (Insolvency) No. 1617 of 2026 (LIC Housing Finance Limited vs. Dr. Subhash Chandra & Anr.).
The appellants are represented by Solicitor General Mr. Tushar Mehta along with multiple advocates for each case. The respondents are represented by advocates Mr. Pulkit Deora and Mr. Shiv Nandan Sharma for R-2, Mr. G.P. Madaan, Mr. Aditya Madaan and Mr. Gaurav Deep Bhal for R-1 (Dr. Subhash Chandra), and Mr. Sasmit Patra, Mr. Shashank Bajpai, Mr. Gopi Chand, Mr. Govind Singh Chauhan and Mr. Vats Tripathi.
The bench comprises Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical).
Final Outcome
The NCLAT has adjourned all three appeals and listed them for hearing on September 2, 2026. No substantive hearing or decision on merits occurred in this order, which was purely procedural to reschedule the matters.
Topics: Insolvency Appeals, Banking Litigation, NCLAT Proceedings