Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 23 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) is hearing four interconnected company appeals related to insolvency proceedings where Advaita Trading Pvt Ltd has been declared the successful auction purchaser. The appeals involve multiple corporate entities challenging Advaita Trading's status as the successful bidder in the insolvency auction process.
The appellants in the various appeals are:
- Density Global Trading Service Pvt Ltd (Company Appeal No. 115 of 2025)
- Vibrant Content Pvt Ltd & Another (Company Appeal No. 123 of 2025)
- Rainbow Bizcom Service Pvt Ltd (Company Appeal No. 125 of 2025)
- Advaita Trading Pvt Ltd (Company Appeal No. 116 of 2025)
All appeals list Advaita Trading Pvt Ltd as the successful auction purchaser and other parties as respondents. The matters involve interim applications I.A. No. 507 of 2025 and I.A. No. 539 of 2025 alongside the main appeals.
Final Outcome
The NCLAT bench comprising Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical) has listed all four appeals for hearing on September 7, 2026. The tribunal has ordered that the existing interim order shall continue until the next hearing date. This means the status quo regarding the auction purchase and any related interim protections will remain in effect until the matters are heard in September 2026.
Topics: Insolvency Appeals, Auction Challenge, Corporate Litigation