Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 07.09.2026
Case Overview
The order addresses three linked Restoration Applications: No. 21 of 2026 (in CA (AT) (Ins) No. 1258 of 2024), No. 22 of 2026 (in CA (AT) (Ins) No. 1260 of 2024), and No. 23 of 2026 (in CA (AT) (Ins) No. 1261 of 2024). The appellants in the respective applications are Arun Singh @ Arun Kumar, Rohit Singh, and Brijesh Kumari. The sole respondent in all three matters is Indian Bank & Anr. The proceedings are restoration applications concerning earlier insolvency appeals filed in 2024. During deliberations, the bench observed that an element of a potential settlement remained in the proceedings.
Final Outcome
The bench, comprising Justice Mohammad Faiz Alam Khan (Member - Judicial) and Naresh Salecha (Member - Technical), granted one week to the parties to engage in a dialogue regarding a fresh settlement. The matter has been adjourned and is listed next for hearing on September 17, 2026. No final ruling on the merits of the applications was issued; the outcome is contingent on the success of the settlement discussions.
Topics: Insolvency, Banking Dispute, Legal Settlement