Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 02.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Company Appeal (AT) (Insolvency) No. 636 of 2026 along with I.A. No. 2498 of 2026. The appeal was filed by Wild Dreams Trading Company Pvt. Ltd. (Appellant) against Ascendancy Financial Services Pvt. Ltd. (Respondent). The matter was heard in hybrid mode. During the hearing on July 2, 2026, no representative appeared for the respondent, Ascendancy Financial Services Pvt. Ltd. Consequently, the tribunal set the respondent ex parte. The appellant was represented by advocates Mr. Tishampati Sen, Mr. Mukul Kulhari, and Ms. Riddhi Sancheti. The bench comprised Justice N. Seshasayee (Member-Judicial), Arun Baroka (Member-Technical), and Indevar Pandey (Member-Technical). After hearing both sides, the tribunal reserved its judgment.
Final Outcome
The judgment has been reserved by the NCLAT bench. The final ruling will be delivered at a later date, determining the outcome of the insolvency appeal between the two corporate entities.
Topics: Insolvency Appeal, NCLAT Proceeding, Corporate Dispute