Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 30 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard an appeal filed by Gopal Lohia, the suspended director of Citron Infraprojects Ltd., against Canara Bank and another respondent. The appeal is registered as CA (AT) (Ins) No. 1373 of 2026. Mr. Abhijeet Sinha, Senior Advocate, represented the appellant along with other advocates. The tribunal considered the appellant's request for an interim order but determined that the respondents should be given an opportunity to be heard first.
The appellant's counsel indicated that related appeals (CA (AT) (Ins) No. 1933 of 2025 and CA (AT) (Ins) No. 1934 of 2025) concerning orders passed by the Adjudicating Authority in IA No. 2508 of 2025 pertaining to Sections 66 and 67 of the Insolvency and Bankruptcy Code in relation to the principal borrower are pending before Bench No. I. The appellant requested that all these appeals be heard and decided by the same bench.
Final Outcome
The NCLAT issued notice to the respondents regarding both the appeal and the stay application. The court granted liberty to the appellant's counsel to serve the respondents dasti (by hand) within 48 hours, along with process fee and requisites. The registry was directed to place the record of this appeal before the Hon'ble Officiating Chairperson to pass an appropriate order regarding the request for hearing all related appeals by the same bench. The matter has been listed for the next hearing on 11 August 2026.
Topics: Insolvency Appeal, Director Liability, Banking Dispute