NCLAT Allows J.C. Flower Substitution for Bank of Baroda

Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 18 September 2026

Case Overview

This order pertains to Company Appeal (AT) (Insolvency) No. 1328 of 2025, filed by Vandana Garg, the Resolution Professional of Raghuleela Builders Pvt. Ltd., against Bank of Baroda & Another. During the pendency of this appeal, the rights originally held by Bank of Baroda were assigned to J.C. Flower Asset Reconstruction Private Limited through an Assignment Agreement. This agreement was formally submitted to the tribunal along with an application seeking substitution of the respondent.

Final Outcome

The NCLAT allowed the substitution application filed on 14 August 2026, replacing Bank of Baroda (Respondent No. 1) with J.C. Flower Asset Reconstruction Private Limited. The appellant was directed to carry out necessary amendments in the cause title and all relevant places in the memo of appeal within one week. The appeal was listed for next hearing on 14 October 2026.

Topics: Insolvency Proceedings, Asset Reconstruction