Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 5, 2026
Case Overview
This is an order from the National Company Law Appellate Tribunal (NCLAT) in an insolvency appeal numbered Comp. App. (AT) (Ins) No. 1222 of 2026, with connected interlocutory applications I.A. No. 4552 and 4730 of 2026. The appellant is JSEL Securities Ltd, and the respondent is Manohar Builder & Developer Pvt. Ltd. The matter appears to be an insolvency proceeding between these two corporate entities. The tribunal, comprising Justice Yogesh Khanna (The Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical), heard representations from advocates for the financial creditor.
The principal issue before the tribunal concerns procedural compliance regarding defect sheets in the appeal process. The order specifically addresses the timeline of defect sheet issuance and resolution.
Final Outcome
The NCLAT directed the appellant, JSEL Securities Ltd, to file an additional affidavit within three weeks from October 5, 2026. This affidavit must specifically state the dates on which defect sheets were given to the appellant and the subsequent dates on which the appellant cleared those defects. A copy of this affidavit must be provided to the respondent. The appeal has been adjourned and is now listed for its next hearing on November 25, 2026.
Topics: NCLAT Proceeding, Insolvency Appeal, Procedural Order