Authority: National Company Law Appellate Tribunal (NCLAT) Principal Bench, New Delhi
Order Date: 13.07.2026
Case Overview
This order pertains to a Restoration Application (AT) No. 25 of 2026 filed by CA Apoorve Bansal (the Appellant) concerning the main appeal, Comp. App. (AT) No. 12 of 2024, which was against the National Financial Reporting Authority (NFRA). The main appeal had been dismissed by the NCLAT via an order dated 06.04.2026 because the appellant's counsel was not present and the appellant was deemed to be not represented on that date. The appellant sought to have this appeal restored to its original number. The appellant's counsel, Mr. Tarun Verma, argued that the non-appearance on the dismissal date was due to a technical glitch that prevented access to the virtual court (VC) portal, despite the senior counsel having instructed him to seek an adjournment. He also submitted that on previous hearing dates, the appeal had been adjourned due to a paucity of time, though the counsel had sometimes failed to mark his presence. The respondent, NFRA, represented by Sr. Advocate Mr. Zoheb Hossain, opposed the restoration. NFRA contended that the appellant was not diligently pursuing the appeal and that the reasons given for the non-appearance were insufficient.
Final Outcome
The NCLAT bench, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical), allowed the restoration application. The tribunal found the appellant's explanation for the non-appearance on 06.04.2026 to be sufficient and noted the submission that the appeal would be pursued diligently going forward. Consequently, the main appeal, CA (AT) No. 12 of 2024, was restored to its original number. The tribunal listed the appeal for a final hearing on 29.07.2026 and issued a strict stipulation that no adjournment would be granted to the appellant on that date.
Topics: Legal Proceedings, Regulatory Appeal, Tribunal Order