Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 21 September 2026
Case Overview
This is an interim order in I.A. No. 5856 of 2026, which is an interlocutory application filed within Company Appeal (AT) (Insolvency) No. 1262 of 2026. The applicant is Sonal Sumit Mehta, who is described as the Successful Resolution Applicant in the Corporate Insolvency Resolution Process (CIRP) of Krystal Stone Exports Limited. She is represented through her representative, Vikas Jain. The respondents are Chirag R. Shah, identified as the Chairman of the Monitoring Committee constituted pursuant to the approval of the Resolution Plan, along with another unnamed respondent.
The Tribunal heard arguments from counsel representing both parties. For the applicant, Mr. Ramji Srinivasan, Senior Advocate, appeared with a team of five other advocates. For the respondents, Mr. Abhishek Anand and Mr. Karan Kohli appeared for the second respondent, while Mr. Anurag Kalavatiya, Ms. Parul Singhal, Ms. Vidhi Pratap Singh, and Mr. Nipun Gautam were also present as advocates.
Final Outcome
The bench, comprising Officiating Chairperson Justice Yogesh Khanna and Members Barun Mitra and Ajai Das Mehrotra, reserved its order on the application. The parties were granted liberty to submit concise notes of their submissions, limited to no more than three pages, by September 25, 2026. The final ruling on the application is pending.
Topics: Insolvency Appeal, NCLAT Proceedings