NCLAT Reserves Judgment in MIM Petro World Appeal

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

Order Date: 30.09.2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) heard an insolvency appeal numbered Comp. App. (AT) (Ins) No. 1700 of 2026. The appellant is Rajesh Harikishan Khandelwal, representing the suspended management of MIM Petro World Private Limited. The respondents are Jay Ambe Industries (proprietor through its authorized person Rajeshkumar Harkishandas Khemani) and another unnamed respondent. Arguments from both parties have been concluded.

Final Outcome

The bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Mr. Naresh Salecha (Member-Technical), has reserved its judgment. The tribunal has permitted the learned counsel for the parties to file written submissions in support of their oral arguments within five days from the order date (30.09.2026). These submissions are strictly limited to three or four pages, must be in Times New Roman font size 14, and must specifically mention the paragraphs of any precedents being relied upon. Any submissions filed after this stipulated time will not be entertained. The final judgment is pending.

Topics: Insolvency Appeal, NCLAT Procedure, Corporate Litigation