Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 03 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two interconnected appeals: Comp. App. (AT) (Ins) No. 987 of 2026 filed by Bhavik Bhimjyani and Comp. App. (AT) (Ins) No. 988 of 2026 filed by Neelkanth Realtors Ltd. Both appeals are against Catalyst Trusteeship Ltd. and another respondent. The Tribunal had previously issued notice in both matters on 29th May 2026. During the hearing on 3rd July 2026, represented by senior advocates and their teams, the Tribunal set procedural timelines for the filing of responses.
Final Outcome
The NCLAT directed that any reply to be filed by respondents must be submitted within two weeks from the order date (by 17th July 2026). Any rejoinder by the appellants must be filed within two weeks thereafter (by 31st July 2026). Both appeals were listed for their next hearing on 3rd August 2026. The order was passed by a bench comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).
Topics: Insolvency Appeal, NCLAT Procedure, Corporate Litigation