Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 29 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected appeals filed by Aditya Raheja (Appellant). The first appeal, Comp. App. (AT) (Ins) No. 1815 of 2026, was against Jayesh Sanghrajka (Resolution Professional of Neo) and Capricorn Plaza Pvt. Ltd & Ors. The second appeal, Comp. App. (AT) (Ins) No. 1816 of 2026, was against Jayesh Sanghrajka (Resolution Professional of Gstaad Hotels Pvt. Ltd) & Ors. The Appellant was represented by Senior Advocates Mr. Gopal Jain and Mr. Neeraj Malhotra, along with their legal teams. The Respondents were represented by multiple counsels including Mr. Abhishek Anand, Ms. Palak Kalra, Mr. Abhijeet Sinha, Dr. Abhishek Manu Sighvi, Mr. Krishnendu Datta, and Mr. Gaurav Mitra. The Appellant sought interim directions in the matter.
The tribunal, after hearing arguments from both sides, determined that the matters require consideration. However, the bench declined to issue any ad-interim directions at this stage without providing the Respondents an opportunity to be heard.
Final Outcome
The NCLAT issued formal notice to all Respondents. Counsel for Respondent Nos. 1, 2 & 3 acknowledged receipt of notice and were granted two weeks to file their replies to both the appeals and the stay applications. The Appellant was given one week thereafter to file a rejoinder, if desired. Both appeals were listed for further hearing on 04 November 2026 under the caption "After Notice". The order was passed by Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical).
Topics: NCLAT Proceedings, Insolvency Appeal, Interim Relief