Case Details
Case Name: Bhavik Bhimjyani vs Catalyst Trusteeship Ltd. & Anr. and Neelkanth Realtors Ltd. vs Catalyst Trusteeship Ltd. & Anr.
Court/Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Case Numbers: Comp. App. (AT) (Ins) No. 987 of 2026 with I.A. No. 3931 of 2026 and Comp. App. (AT) (Ins) No. 988 of 2026
Date of Order: 29th May 2026
Parties Involved
Appellants:
- Bhavik Bhimjyani (in Comp. App. No. 987 of 2026)
- Neelkanth Realtors Ltd. (in Comp. App. No. 988 of 2026)
Respondents:
- Catalyst Trusteeship Ltd. & Anr. (in both appeals)
Legal Representation:
For Appellants: Mr. Abhijeet Sinha, Senior Advocate with Vishesh Kalra, Sahil Monga, Arjun Tyagi, Simran Shadiya, Advocates (in Comp. App. No. 987); Mr. K. Datta, Senior Advocate with Vishesh Kalra, Sahil Monga, Arjun Tyagi, Simran Shadiya, Advocates (in Comp. App. No. 988)
For Respondents: Mr. Arun Kathpalia, Senior Advocate with Varun Kalra, Astha Ojha, Aditya, Advocates for Respondent No. 1 (Catalyst Trusteeship Ltd.)
Issues / Allegations / Violations
The appeals challenge the same order dated 17th April 2026 that initiated Section 7 proceedings under the Insolvency and Bankruptcy Code (IBC) against the Appellant(s). The order was passed by the adjudicating authority below in favor of Catalyst Trusteeship Ltd.
Final Ruling & Enforcement
The NCLAT issued notice on both appeals and listed them for hearing on 3rd July 2026. The Tribunal granted liberty to the parties to file interim applications (I.A.) if such occasion arises. The order was passed in hybrid mode by a bench comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).