Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 28 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard arguments in Company Appeal (AT) (Ins.) No. 2059 of 2026 between appellant Vashisht Kumar Goyal and respondents Mahamaya Exports Pvt. Ltd. and another. During proceedings, Ms. Bina Gupta appeared representing Ms. Sonal Bansal, who has a related matter before the Supreme Court (Misc. Application Diary No. 54224/2026, Sona Bansal vs. Vashisht Kumar Goyal & Ors.). She informed the tribunal that the Supreme Court had passed an order on 27 October 2026 staying the constitution of the Committee of Creditors (CoC) for the corporate debtor. She further requested that this appeal be placed before Bench No.2 where all other cases regarding inter-se disputes between shareholders of the corporate debtor are pending.
The appellant's counsel objected to this representation, arguing that Sona Bansal is neither a proper party nor a necessary party to this appeal, noting that insolvency proceedings against a corporate debtor don't require arraying every shareholder or director as a party.
The tribunal noted that the matter was placed before this bench because the presiding officer of Bench No.2 was on leave, but would be available the next day (29 October 2026).
Final Outcome
The NCLAT ordered that the appeal be listed on 29 October 2026 before Bench No.2 as the first case on the cause list, accommodating the request for consistency with related matters.
Topics: Insolvency Proceedings, Shareholder Dispute, Committee of Creditors