Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 18 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench has consolidated and listed seven separate insolvency appeals for hearing on 25th November, 2026. All appeals challenge actions taken by Resolution Professional Chaya Gupta in the insolvency proceedings of JSM Devcons Pvt. Ltd.
The appellants include:
- Sanjay Lunawat (Company Appeal (AT) (Insolvency) No. 1526 of 2024)
- Manikant Gupta (Company Appeal (AT) (Insolvency) No. 1307 of 2024)
- Gupta H.U.F. Through Its Karta Manikant Gupta (Company Appeal (AT) (Insolvency) No. 1314 of 2024)
- Yashodhan Gupta as Legal Heir of Late Shri Premnath Gupta (Company Appeal (AT) (Insolvency) No. 1315 of 2024)
- Yashodhan Gupta in personal capacity (Company Appeal (AT) (Insolvency) No. 1316 of 2024)
- The Electrical Equipment MFG and Testing Centre Through Its Sole Proprietor Manikant Gupta (Company Appeal (AT) (Insolvency) No. 1317 of 2024)
- Dr. Chandrapal Dham (Company Appeal (AT) (Insolvency) No. 506 of 2025)
All respondents include Chaya Gupta as the Resolution Professional for JSM Devcons Pvt. Ltd., with some appeals including additional respondents.
Final Outcome
The three-member bench comprising Justice Sharad Kumar Sharma (Member Judicial), Arun Baroka (Member Technical), and Indevar Pandey (Member Technical) directed that all seven appeals be listed for hearing on 25th November, 2026. The order was passed in hybrid mode.
Topics: Insolvency Appeals, Corporate Resolution Professional, NCLAT Proceedings