Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 21.08.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard procedural matters in Company Appeal (AT) (Ins) No. 1553 of 2026 between Bhushan Power and Steel Ltd. (Appellant) and Nova Iron and Steel Ltd. (Respondent). The appeal concerns a dispute over property claimed by the appellant (Corporate Debtor). The tribunal addressed three interlocutory applications (IAs) related to document filing and interim relief.
Final Outcome
The tribunal disposed of IA No. 5956/2026 by granting the appellant 15 days to file a certified copy. IA No. 5957/2026 was disposed of with permission for the appellant to file typed copies of documents when necessary. For IA No. 5958/2026 (interim relief), the respondent was granted two weeks to file a reply, with the appellant given one week thereafter for rejoinder. Most significantly, the respondent's senior counsel gave an undertaking that the respondent "will not take any action with regard to any of the property which is claimed to be the property of the CD by the appellant." This undertaking was recorded by the tribunal. The matter was listed for next hearing on 25.09.2026.
Topics: Insolvency Appeal, Property Dispute, NCLAT Proceedings