Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 31 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two interconnected appeals:
1. Company Appeal (AT) (Insolvency) No. 608 of 2026: Filed by Abhay Narayan Manudhane, the Resolution Professional of Housing Development and Infrastructure Ltd. (HDIL), against My Palace Mutually Aided Cooperative Society Ltd. and Others.
2. Company Appeal (AT) (Insolvency) No. 817 of 2026: Filed by Unity Small Finance Bank Ltd. against My Palace Mutually Aided Cooperative Society Ltd. and Others.
Representation included Ms. Varshini Sunder, Mr. CG Shankar, and Mr. Vigil Juris advocating for the Appellant in CA 608/2026 and for Respondents in CA 817/2026. Mr. Piyush Tonk represented Respondents 1-2 in CA 608/2026, while Mr. Atul Sharma, Mr. Arpit Paul, and Ms. Renuka Iyer represented Respondent 4 in CA 608/2026 and the Appellant in CA 817/2026.
The tribunal noted that replies have been filed in both appeals. Counsel for Respondents No. 1 and 2 in CA 608/2026 submitted that they have filed some applications which require consideration.
Final Outcome
The NCLAT directed that rejoinders be filed within three weeks from 31 August 2026. The applications filed by Respondents No. 1 and 2 will be listed for consideration on the next date of hearing. Both appeals have been adjourned and are now listed for next hearing on 16 October 2026.
Topics: Insolvency Appeals, NCLAT Procedure, Hearing Adjournment