Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: July 3, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard two connected appeals: Comp. App. (AT) (Ins) No. 987 of 2026 (Bhavik Bhimjyani vs. Catalyst Trusteeship Ltd. & Anr.) and Comp. App. (AT) (Ins) No. 988 of 2026 (Neelkanth Realtors Ltd. vs. Catalyst Trusteeship Ltd. & Anr.). The Tribunal had previously issued notices in these matters on May 29, 2026. The appeals are directed against Catalyst Trusteeship Ltd. and another respondent. Representation included Senior Advocates Mr. Krishnendu Datta (for appellant Bhimjyani) and Mr. Arun Kathpalia (for respondent Catalyst Trusteeship), along with several other advocates.
Final Outcome
The NCLAT admitted both appeals and issued procedural directions: respondents must file replies within two weeks, followed by appellants' rejoinders within two weeks thereafter. Both appeals are scheduled for hearing on August 3, 2026. The order was passed by a bench comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).
Topics: Insolvency Appeals, Legal Proceedings