Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 17 July 2026
Case Overview
This order addresses interlocutory applications (I.A. No. 4386 - 4389 of 2026) filed within four main appeals (Comp. App. (AT) (Ins) No. 1090 - 1093 of 2026). The appeals were filed by Edelweiss Asset Reconstruction Company Ltd. against Fab Metals Pvt. Ltd. & Anr. The applicant seeking impleadment in these appeals is M/s. Lodha Developers Ltd. The core of the dispute, as referenced from an earlier impugned order, concerns the ownership of a specific piece of land. The impugned order had held that the entire land is owned by the Corporate Debtor (Fab Metals Pvt. Ltd.). However, the appellant (Edelweiss ARC) and the intervenor (Lodha Developers) contend that a portion of this land belongs to Lodha Developers Ltd. This land ownership issue is central to the insolvency proceedings of the corporate debtor. Separate appeals (Comp. App. (AT) (Ins) No. 1119 & 1120 of 2026) have also been filed by Lodha Developers Limited against CA Kanak Jani (the Resolution Professional of Premier Limited) & Ors., which were heard alongside the main appeals.
Final Outcome
The Appellate Tribunal allowed the impleadment applications of Lodha Developers Ltd., permitting it to formally intervene in the appeals filed by Edelweiss ARC. The tribunal noted that the appellant (Edelweiss ARC) had no objection to this intervention, as recorded in a previous order dated 01.07.2026. The appellant was directed to file an amended memo of parties on the same day. The respondents were given four days to file their replies to the appeal. Lodha Developers, as the appellant in the connected appeals, was granted four days to file rejoinders. The matters have been listed for further hearing on 23rd July 2026 at 02:00 P.M., as the first case.
Topics: Insolvency Litigation, Land Ownership Dispute