Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 30 June 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected appeals (Comp. App. (AT) (Ins) No. 982 of 2026 and Comp. App. (AT) (Ins) No. 983 of 2026) along with three interlocutory applications (I.A. No. 3898, 3899, and 3905 of 2026). The appeals were filed by Mehul Sedani, identified as the Successful Resolution Applicant for Grey's Exim Pvt. Ltd., against Prashant Jain, who is referred to as both the Resolution Professional and Erstwhile Resolution Professional of Grey's Exim Pvt. Ltd., along with other respondents. Bank of Baroda was represented by counsel Mr. Abhindra Maheshwari as one of the respondents. The applications sought condonation of delay in both filing and refiling the appeals.
Final Outcome
The NCLAT bench, chaired by Justice Ashok Bhushan with Member (Technical) Barun Mitra, issued notice on the applications praying for condonation of delay. The tribunal directed that replies be filed within two weeks. The appellant was granted liberty to file a hard copy of an additional affidavit within one week and also permitted to file an application to bring the liquidator on record within two weeks. The matters were listed for further hearing on July 29, 2026. The order did not constitute a final ruling on the merits of the appeals but addressed procedural aspects related to the delay in filing.
Topics: Insolvency Appeal, Delay Condonation, Corporate Resolution