Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Order Date: 16.10.2026
Case Overview
This appeal was filed by Bank of Baroda against an impugned order dated 21.09.2026 passed by the National Company Law Tribunal (NCLT), New Delhi Bench in IA No. 3246 of 2026 in CP (IB)-24(PB)/2022. The original application before the NCLT was merely for the grant of a 60-day extension of the Corporate Insolvency Resolution Process (CIRP) period for Great Indian Nautanki Company Pvt. Ltd., effective from 15.07.2026. However, in its order on this routine extension application, the NCLT issued specific directions to the Chairman and Managing Director (CMD) of Bank of Baroda. The NCLT had directed the CMD to explain how the Bank could extend a financial facility to a company without verifying that the allotment of land in its favour by the HSVP (Haryana Shahari Vikas Pradhikaran) could be terminated before the commencement of the CIRP.
Final Outcome
The NCLAT disposed of the appeal by expunging the aforementioned directions given to the CMD of Bank of Baroda. The appellate tribunal held that the application (IA No. 3246 of 2026) was solely for an extension of time, which the NCLT had already granted, and nothing else. The NCLAT deleted the directions from the impugned order and instead directed that an affidavit be filed by an authorized officer of the Bank to this effect before the NCLT within two weeks from the date of its order (16.10.2026). All pending applications in the appeal, namely I.A. No. 7588 and 7589 of 2026, were closed.
Topics: Insolvency Litigation, Banking Regulation, Judicial Review