Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 21 September 2026
Case Overview
This is an order from the National Company Law Appellate Tribunal (NCLAT) concerning an Interlocutory Application (I.A. No. 5856 of 2026) filed within a larger Company Appeal (AT) (Insolvency) No. 1262 of 2026. The application involves Sonal Sumit Mehta, who is identified 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, in his capacity as the Chairman of the Monitoring Committee constituted pursuant to the approval of the Resolution Plan, and another unnamed respondent.
The matter was heard in hybrid mode by a bench consisting of Officiating Chairperson Justice Yogesh Khanna and Members (Technical) Barun Mitra and Ajai Das Mehrotra. Counsel for the applicant was Mr. Ramji Srinivasan, Senior Advocate, assisted by a team of advocates. Counsel for the respondents were Mr. Abhishek Anand, Mr. Karan Kohli, Mr. Anurag Kalavatiya, Ms. Parul Singhal, Ms. Vidhi Pratap Singh, and Mr. Nipun Gautam.
Final Outcome
The Tribunal reserved its order on the interlocutory application. The parties were granted liberty to submit their final notes of submissions, which must not exceed three pages, by September 25, 2026. The final ruling on the application is pending.
Topics: Insolvency Appeal, NCLAT Proceeding