Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 15 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard three connected insolvency appeals filed by public sector banks against Akul Securities Pvt. Ltd. and other respondents. The appeals are: Company Appeal (AT) (Insolvency) No. 946 of 2024 with I.A. No. 138 of 2026 filed by Bank of India; Company Appeal (AT) (Insolvency) No. 1144 of 2024 with I.A. No. 4102 and 4103 of 2024 filed by Central Bank of India; and Company Appeal (AT) (Insolvency) No. 1254 of 2024 with I.A. No. 4482 of 2024 filed by Canara Bank.
Multiple legal representatives were present during the hybrid mode hearing: For Bank of India (Appellant): Mr. Aditya Kumar and Ms. Sheetal Dubey, Advocates; For Central Bank of India (Appellant): Mr. Krishan Kumar and Mr. Ravi Kumar, Advocates; For Canara Bank (Appellant): Mr. Vaibhav Krishan Dayma, Advocate. For the respondents, representation included: Mr. Nilotpal Shyam, Mr. Shivali, Mt. Tejas Mishra and Ms. Babita Jain, Advocates for the Resolution Professional; Mr. Shivam Takkar, Advocate for IDBI Bank; and Mr. Sumit Raj, Advocate for other respondents.
The bench comprised Justice Sharad Kumar Sharma (Member Judicial), Arun Baroka (Member Technical), and Indevar Pandey (Member Technical).
Final Outcome
The NCLAT bench ordered that all three appeals be listed for next hearing on November 5, 2026. No substantive hearing or decision on merits occurred during this proceeding, which was purely procedural for scheduling purposes.
This content may not be financially relevant as it represents a procedural adjournment without any substantive ruling on the insolvency matter.