Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 10 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1056 of 2026 along with I.A. No. 4161 and 4162 of 2026. The appellant is Sudarshan Aithal, suspended director of Distribution Logistics Infrastructure Pvt. Ltd. The respondents include Bank of India and others, with JM Financial Asset Reconstruction Company Ltd. being newly impleaded as a respondent. The tribunal addressed procedural matters including document sharing and replacement of the resolution professional.
Final Outcome
The NCLAT directed the appellant to provide the newly impleaded respondent, JM Financial Asset Reconstruction Company Ltd., with copies of the memo of appeal and all enclosures on the same day (10 August 2026). The tribunal also noted that the erstwhile Interim Resolution Professional, Mr. Prashant Jain, had been replaced by Mr. Trupal Kumar Patel (Insolvency Registration No. IBBI/IPA-001/IP-P01186/2018-19/11907 C/505) and directed the appellant to file an amended memo of parties reflecting this change. The case was adjourned and listed for next hearing on 17 August 2026 under the same caption.
Topics: Corporate Insolvency, NCLAT Proceedings, Resolution Professional