Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 14th September, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) was hearing three interconnected Company Appeals related to insolvency proceedings. The appeals are:
1. Company Appeal (AT) (Insolvency) No. 202 of 2025: Filed by Asha Garg (Suspended Management of VV Multiplex Pvt. Ltd.) against Ashok Kumar Goyal & Others.
2. Company Appeal (AT) (Insolvency) No. 223 of 2025: Filed by IPS Associates against Ritu Rastogi (Resolution Professional of Vikas Multiplex Developers Pvt. Ltd.) & Others.
3. Company Appeal (AT) (Insolvency) No. 431 of 2025: Filed by Bal Raj Singh & Others against Ritu Rastogi (Resolution Professional of Vikas Multiplex Developers Pvt. Ltd., now known as VV Multiplex Developers Pvt. Ltd.) & Others.
The proceedings involve the corporate insolvency resolution process of Vikas Multiplex Developers Pvt. Ltd. (now VV Multiplex Developers Pvt. Ltd.) and VV Multiplex Pvt. Ltd. The bench comprised Justice Sharad Kumar Sharma (Member-Judicial), Arun Baroka (Member-Technical), and Indevar Pandey (Member-Technical).
Final Outcome
The NCLAT adjourned the hearing of all three appeals to 21st September, 2026. This decision was made exclusively due to a personal exigency faced by the learned counsel for Respondent No. 1, despite the appeals having been heard for a considerable time and arguments being expected to continue. The order was passed in hybrid mode.
Topics: Insolvency Appeal, Adjournment, NCLAT