Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: July 9, 2026
Case Overview
This is an appeal (Comp. App. (AT) (Ins) No. 1089 of 2026) filed by Yogesh Kasundra, the suspended director of Pithadai Construction Pvt. Ltd., against Mittal Construction Co. & Anr. The proceedings relate to a previous order issued by the tribunal on June 24, 2026. In that order, the appellant was directed to prepare a Fixed Deposit Receipt (FDR) for ₹1,29,77,269 in the name of the Registrar of the NCLAT and place it in the Registrar's custody within four days.
During the hearing, the appellant's counsel submitted that this directive had been complied with. The tribunal, having regard to this information, has now directed the appellant to file an appropriate affidavit confirming this compliance. The tribunal also directed its Registrar to submit a report, as per paragraph 6 of the June 24 order, to confirm that the FDR has been deposited into his custody.
Regarding pleadings, the counsel for Respondent No. 1 (Mittal Construction Co.) submitted a hard copy of their reply. The appellant was permitted to file a rejoinder to this reply within ten days. The tribunal noted that while the Interim Resolution Professional (IRP/Respondent No. 2) was present on June 24, no reply had been filed by them. The IRP was granted a final opportunity of 14 days to file their reply, with an advance copy to the appellant, who may then file a rejoinder.
Final Outcome
The appeal is listed for its next hearing on July 29, 2026. The interim order dated June 24, 2026, will remain operative until that date. Respondent No. 1's counsel was requested to provide a copy of this order to the Resolution Professional and ensure their presence at the next hearing.
Topics: NCLAT, Corporate Insolvency, Compliance