NCLAT Reserves Order on IBBI Appeal Caveator Status

Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi

Order Date: 03.09.2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) heard two connected appeals (Comp. App. (AT) (Ins) No. 1612 of 2026 and Comp. App. (AT) (Ins) No. 1629 of 2026) involving Navneet Gupta (Insolvency Professional) as appellant and the Insolvency and Bankruptcy Board of India (IBBI) as respondent, with Sanjeev Mahajan appearing as a caveator. The limited issue before the tribunal was whether the caveator (Sanjeev Mahajan) is a proper or necessary party to the appeal against an IBBI disciplinary proceeding order.

The appellant, represented by Shri Abhishek Anand, argued that the caveator is neither a proper nor necessary party since they were not involved in the original disciplinary proceeding before the IBBI. The appellant cited various provisions of the Insolvency and Bankruptcy Code (IBC) and relevant precedents to support this position.

In contrast, the caveator's counsel contended that Sanjeev Mahajan is an aggrieved person under Sections 217 and 220(7) of the IBC, as he was the original complainant in the case that led to the disciplinary proceedings.

The tribunal also addressed I.A. No. 6230 of 2026, hearing arguments from Shri Deepak Khosla and Shri Abhishek Anand. Additionally, Mr. Sumesh Dhawan, counsel for SRA, sought and was granted permission to file an appropriate application. The tribunal noted that an impleadment application filed by the caveator/Mr. Sanjeev Mahajan is pending with the registry.

Final Outcome

The tribunal reserved its order on both the main issue of caveator status and I.A. No. 6230 of 2026. Parties were directed to file written submissions supporting their oral arguments within two-three working days, limited to 3-4 pages (Times New Roman, Font Size 14). The registry was directed to place the impleadment application on record at the next hearing, the date of which will be announced when the reserved order is pronounced.

Topics: NCLAT Procedure, IBBI Disciplinary Appeal, Caveator Status