Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 14 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard two connected appeals concerning the corporate insolvency resolution process of Sristi Hospitality Private Limited.
Comp. App. (AT) (Ins) No. 1959 of 2026 was filed by a Consortium comprising Admas Industries Pvt. Ltd., Subh Ashish Exim Pvt. Ltd., Amit Jain, and Hardcastle Restaurants Pvt. Ltd. (the Successful Resolution Applicant of Sristi Hospitality Private Limited) against Rajan Deshraj Agarwal & Anr.
Comp. App. (AT) (Ins) No. 1978 of 2026 was filed by Rajan Deshraj Agarwal against Saraswat Co-Operative Bank Limited & Anr. The appeals were connected with the consent of all parties.
Representation included Senior Advocates Mr. Vivek Sibal (for the Consortium) and Mr. Sumant Batra (for Rajan Deshraj Agarwal), along with their respective legal teams. After hearing detailed arguments from all parties, the tribunal reserved its judgment.
Final Outcome
The NCLAT reserved judgment and stayed the operation of the impugned order until the pronouncement of the final judgment. Parties were granted permission to file written submissions of not more than 3-4 pages with relevant legal citations within three working days from October 14, 2026.
Topics: Insolvency Appeal, NCLAT Proceedings, Corporate Resolution