Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 31.07.2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) heard arguments in Comp. App. (AT) (Ins) No. 1058 of 2026, an appeal filed by Kanta Gupta against Bank of India & Others. The appellant was represented by Senior Advocates Mr. Krishnendu Datta and Mr. Neeraj Malhotra, along with Mr. Nipun Gautam and Mr. Harsh. The respondents were represented by multiple counsel: Mr. Vadlamani Seshagiri, Mr. Christy Nameirakpam, Mr. Ananya Kukreti and Ms. Deepanshi Kaushik for Respondent No. 1 (Bank of India); Ms. Eshna Kumar and Ms. Astha Agrawal for Respondent No. 4; and Mr. Sandeep Bajaj, Mr. Akshit Awasthi, Mr. Mayank Biyani and Ms. Tanishka Kapoor for Respondent No. 5.

The tribunal noted that an amended memo of parties had been filed in compliance with its earlier order and directed the appellant's counsel to make suitable amendments in the memo of parties enclosed with the memo of appeal within one week. All respondents filed replies to the appeal and relevant interlocutory applications (IA No. 4477 of 2026 filed by the appellant). Respondent No. 1 (Bank of India) stated that it is the lead bank while Respondent No. 2 and 3 are members of the consortium, and therefore the reply filed by Respondent No. 1 should be deemed as the reply for Respondent No. 2 and 3 as well. This statement was taken on record by the tribunal.

Final Outcome

Based on consensus arrived between learned counsel for all parties, the tribunal proceeded to hear the appeal finally. After hearing arguments from the appellant's senior counsel and counsel for Respondent No. 1, 4 and 5, the tribunal reserved its judgment. The parties were directed to file written submissions supporting their oral arguments within three days, limited to four to five pages, in Times New Roman font size 14. The order specified that any submissions filed after the stipulated time would not be entertained. The bench comprised Justice Mohammad Faiz Alam Khan (Member-Judicial) and Mr. Naresh Salecha (Member-Technical).

Topics: NCLAT Proceeding, Insolvency Appeal, Banking Dispute