Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 26 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard multiple interconnected appeals. The primary appellant is Punjab National Bank, while the main respondent is Kunika Malhotra. Other entities involved include Unique Properties and Securities Pvt. Ltd. and Vidyut Metallics Pvt. Ltd. as respondents. The appeals heard were Company Appeal (AT) No. 400 of 2026 with I.A. No. 7669 of 2026, Company Appeal (AT) No. 401 of 2026 with I.A. No. 7672 of 2026, Company Appeal (AT) No. 369 of 2026, and Company Appeal (AT) No. 373 of 2026 with I.A. No. 7213 of 2026.
Two specific interim applications were pending in these appeals: an application for leave to appeal and an application seeking condonation of delay in refiling. The Tribunal noted that respondents were requested to complete their instructions regarding these interim applications by the next hearing date.
The Tribunal ordered that all these company appeals be listed together for hearing. Additionally, counsel for Punjab National Bank stated that two other company appeals had been preferred but had not yet matured to be placed as fresh cases.
Final Outcome
The NCLAT directed that all connected appeals - Company Appeal (AT) No. 400 of 2026, Company Appeal (AT) No. 401 of 2026, Company Appeal (AT) No. 369 of 2026, and Company Appeal (AT) No. 373 of 2026 - along with any other related appeals, be consolidated and listed together as 'Fresh Cases' on 28th October, 2026 for further proceedings.
Topics: NCLAT Proceedings, Banking Litigation, Corporate Appeals