Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 08 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard multiple connected appeals (Company Appeal (AT) (Insolvency) Nos. 1096, 1097, 1098, 1100, 1101, and 1102 of 2026) involving Yes Bank Ltd. as the common respondent against various appellants including Infosoft Global Pvt. Ltd., RDG Enterprises Pvt. Ltd., Nakul Himatsingka (Suspended Director of Ideal Real Estate Pvt. Ltd.), and Unique Realtor Pvt. Ltd.
The core issue concerns a procedural error where the Adjudicating Authority (NCLT) appointed a Resolution Professional (RP) who was deceased at the time of the appointment order. The Tribunal noted that an application (IA No.1772 of 2025) had been filed even before the order under Section 7 was passed, bringing this fact to the Adjudicating Authority's notice. This application was allowed on 19 May 2026, but the Adjudicating Authority overlooked its own order while passing the impugned order on 22 June 2026 that admitted the Corporate Debtor to Corporate Insolvency Resolution Process (CIRP).
The Tribunal observed that since the impugned order has not yet been rectified to substitute the deceased RP, the appellants are "relatively in safe zone today" as the order cannot be effectively implemented in its current form.
Final Outcome
The NCLAT adjourned the matters to 13 July 2026 specifically to consider whether interim relief is required and the nature of such relief. The Tribunal did not make any final determination on the merits of the appeals but acknowledged the procedural defect in the appointment of the deceased Resolution Professional.
Topics: Insolvency Proceedings, Procedural Error, Resolution Professional Appointment