Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: October 16, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard two connected appeals: Comp. App. (AT) (Ins) No. 1175 of 2026 filed by Vinod Doulatani and Comp. App. (AT) (Ins) No. 1176 of 2026 filed by Haresh Doulatani. Both appeals are directed against IIFL One Value Fund – Series B (a scheme under IIFL Alternative PE Fund) through IIFL Management Services Ltd. (Investment Manager) and another respondent. The hearing was conducted in hybrid mode and completed on October 16, 2026. The bench comprised Justice Yogesh Khanna (The Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical).
Representation for the appellants was led by Senior Advocate Mr. Neeraj Malhotra along with advocates Mr. Harsh Gurbani, Mr. Shamant Sethiya, Mr. Karshil Shah, Mr. Aditya Bharat Manubarwala, and Ms. Tanishka Grover. The first respondent (IIFL One Value Fund) was represented by Senior Advocate Mr. Gopal Jain along with advocates Ms. Priyanka Vora, Ms. Aratrika Brahmachari, and Ms. Kriti Sharma.
Final Outcome
The NCLAT reserved judgment in both appeals. All parties were permitted to file short notes of submission not exceeding three pages on the same day (October 16, 2026). The final ruling is pending as the judgment has been reserved.
Topics: NCLAT Proceedings, Investment Dispute, Fund Management