NCLAT Reserves Judgment in Raja Udyog Insolvency Appeal

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

Order Date: 04.08.2026

Case Overview

This is an order from the National Company Law Appellate Tribunal (NCLAT) in an insolvency appeal, Comp. App. (AT) (Ins) No. 1332 of 2026. The appellant is Loknath Prasad Gupta, identified as a Member of the Suspended Board of Directors of Raja Udyog Private Limited. The respondents are Dinesh Chand & Ors. The Tribunal heard arguments from senior counsel for the appellant and counsel for the respondents. Counsel for respondents 1, 2, and 3 submitted that they would not file a formal reply in the case and requested that their written submissions be considered as their reply. Following the conclusion of arguments, the Tribunal reserved its judgment.

Final Outcome

The Tribunal reserved its judgment. It issued an interim directive ordering the Interim Resolution Professional (IRP) to maintain the status quo as of the order date (04.08.2026) until the judgment is pronounced. Counsel for the parties were permitted to file concise written submissions, limited to 3-4 pages, within one week.

Topics: Insolvency Appeal, Corporate Litigation