Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 06.11.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard matters related to Comp. App. (AT) (Ins) No. 1243 of 2022, involving Ashok Gupta (Suspended Director of Ajnara India Ltd.) as Appellant versus Manish Kumar Gupta & Anr. (Authorized Representative for Class of Creditors) as Respondents. The tribunal addressed Interlocutory Applications I.A. No. 6721 of 2024 and 5120 of 2026 in the main appeal. The proceedings concern the corporate insolvency resolution process of Ajnara India Ltd., with specific focus on the resolution of the corporate debtor's assets, particularly the Ambrosia Project.
The tribunal had previously taken a decision to resolve the Ambrosia Project of the corporate debtor on a priority basis, separate from other assets. This order specifically addresses the disposal of applications filed by various parties regarding the Ambrosia Project resolution.
Final Outcome
The NCLAT adjourned the hearing of the main appeal along with all interlocutory applications pertaining to the Ajnara/Ambrosia Project to December 21, 2026, at 3:00 PM. The registry was directed to accept hard copies of those applications and affidavits that had been filed online regarding the Ajnara/Ambrosia Project resolution process.
Topics: Insolvency Proceedings, Project-wise Resolution, Corporate Debtor