Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 21 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard a cluster of interconnected appeals and contempt cases stemming from the Corporate Insolvency Resolution Process (CIRP) of Shree Ram Urban Infrastructure Ltd. The matters involve multiple parties, primarily the Resolution Professional (Truvisory Insolvency Professional Pvt. Ltd.), a financial creditor (Indiabulls Housing Finance Ltd.), and allottees/homebuyers represented by Urbanbliss Realty Services Pvt. Ltd. The appeals challenge various orders passed during the insolvency proceedings. Contempt cases have also been initiated by Urbanbliss Realty Services against Indiabulls Housing Finance Ltd. and an individual, Sri Gopal Choudhary, alleging non-compliance with the tribunal's directives.
Final Outcome
The bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Arun Baroka (Member-Technical), did not pass any substantive orders on the merits of the cases. Citing a lack of time, the tribunal adjourned the hearing. All appeals and connected interlocutory applications (IAs) and contempt cases were listed for the next hearing on 30 October 2026. The final outcome of the appeals and the contempt allegations remains pending and will be considered on the next date of hearing.
Topics: Insolvency Litigation, Real Estate, Contempt of Court