NCLAT Reserves Judgment in Indian Bank Insolvency Appeals

Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 05.11.2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) Principal Bench heard three interconnected insolvency appeals: Comp. App. (AT) (Ins) No. 884 of 2026 (Indian Bank vs. Siddharth Gupta & Ors.), Comp. App. (AT) (Ins) No. 813 of 2026 (Vehicle Recyclers India Pvt. Ltd. vs. Siddharth Gupta & Ors.), and Comp. App. (AT) (Ins) No. 1583 of 2026 (Siddharth Gupta vs. Isinox Ltd. & Ors.). The appeals involve Indian Bank as appellant in the first matter, Vehicle Recyclers India Pvt. Ltd. as appellant in the second matter, and Siddharth Gupta as appellant in the third matter against respondents including Isinox Ltd. (through its Interim Resolution Professional Gauri Pankaj Deshpande). The tribunal heard learned counsel for all parties in depth, including senior advocate Mr. Gaurav Mitra representing certain parties, and concluded arguments.

Final Outcome

The NCLAT reserved its judgment on all three interconnected appeals. The court granted learned counsel for the parties ten working days from November 5, 2026, to file written submissions supporting their oral arguments, with strict formatting requirements (Times New Roman font, 14 font size, not exceeding three to four pages). Any submissions filed after the stipulated time will not be entertained. The bench comprised Justice Mohammad Faiz Alam Khan (Member Judicial) and Mr. Naresh Salecha (Member Technical).

Topics: Insolvency Proceedings, NCLAT Appeals, Corporate Debtor