Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 08.10.2026
Case Overview
This order pertains to Comp. App. (AT) (Ins) No. 1781 of 2026, an appeal filed by Abhay Sapre, the Suspended Director of FTF Pharma Private Limited, against Immacule Lifesciences Pvt. Ltd. & Anr. The Tribunal, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical), heard arguments from the Learned Counsel for the Appellant, the Learned Counsel for the Respondent (Operational Creditor), and the Resolution Professional (Mr. Sunil Kumar Kedia) who appeared in person. Following the conclusion of arguments, the Tribunal has reserved its judgment on the matter.
A key interim direction has been issued, stipulating that no further proceedings in view of the impugned order shall be taken by the Resolution Professional until the judgment is pronounced. This effectively stays the corporate insolvency resolution process pending the final decision. The Learned Counsel for the parties were given the option to file written submissions within 5 days, with strict formatting guidelines (not more than 3-4 pages, Times New Roman, Font Size-14) and a requirement to cite relevant legal precedents with specific paragraphs.
Final Outcome
The final ruling on the appeal is pending as the judgment has been reserved. The immediate practical consequence is a stay on all proceedings related to the impugned order by the Resolution Professional until the NCLAT delivers its judgment.
Topics: Insolvency Appeal, NCLAT Proceeding