Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 14 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) has reserved judgment in two interconnected company appeals under insolvency proceedings.
Company Appeal (AT) (Insolvency) No. 1138 of 2026 involves State Bank of India as the appellant against Garden Court Distilleries Pvt. Ltd. & Anr. as respondents. The appellant was represented by Mr. Krishnendu Datta, Senior Advocate with Ms. Ekta Choudhary, Mr. Gaurav Raj Grover, Advocates. The respondents were represented by Mr. Abhijeet Sinha, Senior Advocate with Mr. Himanshu Satija, Ms. Ripul Swati, Mr. Suyash Shrivastava, Mr. Aridaman Raghav, Advocates for Respondent 1, and Mr. Sumant Batra, Mr. Sarthak Bhandari, Ms. Riya Kaur Arora, Mr. Aditya Jain, Advocates for the Liquidator, along with Ms. Shreya Moondhra, Advocate.
Company Appeal (AT) (Insolvency) No. 1145 of 2026 involves Garden Court Distilleries Pvt. Ltd. as the appellant against Akhil Ahuja Liquidator of Honest Derivatives Ltd. & Anr as respondents. The respondents were represented by the same legal team as in the connected appeal.
The three-member bench comprising Justice Yogesh Khanna (Officiating Chairperson), Barun Mitra (Member Technical), and Ajai Das Mehrotra (Member Technical) heard arguments from both sides in hybrid mode and concluded arguments on 14 August 2026.
Final Outcome
The tribunal has reserved its judgment in both matters. The final ruling and its practical consequences for the parties involved will be determined when the judgment is delivered at a future date.
Topics: Insolvency Appeals, NCLAT Proceedings, Banking Dispute