Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 06 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1117 of 2026 along with two interim applications (IA No. 4147 of 2026 and IA No. 4370 of 2026). The appeal involves IIFL Home Finance Ltd. as the appellant and Pashmina Realty Pvt. Ltd. as the sole respondent. The matter represents ongoing insolvency proceedings between the housing finance company and the real estate entity.
During the hearing conducted in hybrid mode, counsel for the respondent Mr. Pranav Khanna appeared through video conference and requested additional time to file the necessary Power of Attorney/Vakalatnama on behalf of the respondent. He further sought reasonable time to file objections to the two interim applications for which notice had been issued.
The tribunal, comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Arun Baroka (Member Technical), granted the respondent's counsel one week from August 6, 2026 to file replies to both interim applications (IA No. 4147 of 2026 and IA No. 4370 of 2026). The respondent must provide an advance copy of these replies to the appellant's counsel. The appellant's counsel, represented by Ms. Shalini Singh and Mr. Gulshan Kr. Sachdev, was granted an additional week to file any rejoinder to the respondent's replies if they so wish.
Final Outcome
The NCLAT adjourned the matter to August 21, 2026 for further hearing under the same caption. The order represents a procedural adjournment to allow for the completion of necessary documentation and filing of responses to the interim applications, without addressing the substantive merits of the case at this stage.
Topics: NCLAT Proceedings, Insolvency Matter, Housing Finance