Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 22 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard an insolvency appeal numbered Comp. App. (AT) (Ins) No. 530 of 2026, along with three interlocutory applications (I.A. No. 2042, 2043, and 2044 of 2026). The appeal was filed by Mr. Rajesh Mehru (Appellant) against Punjab National Bank (R1) and another respondent (R2). The proceedings were conducted in hybrid mode. The legal representation included Advocates Viren Sharma, Yash Srivastava, and Naman Tripathi for the Appellant. For the respondents, Mr. Sandeep Bajaj, Mr. Mayank Biyani, and Mr. Ashwani Sharma appeared for R2, while Mr. Ajay Shanker represented Punjab National Bank (R1).
Final Outcome
The tribunal concluded hearing arguments from all parties. The respective counsels were directed to supply their written submissions within three days from the order date (22 July 2026). Following this, the bench comprising Justice Sharad Kumar Sharma (Member-Judicial), Arun Baroka (Member-Technical), and Indevar Pandey (Member-Technical) reserved its judgment. The final ruling is pending and will be delivered at a future date.
Topics: Insolvency Appeal, Banking Dispute, NCLAT Proceeding