Authority: National Company Law Appellate Tribunal (NCLAT) 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 an Interlocutory Application (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), arising from an order in a corporate insolvency resolution process. During the hearing on July 2, 2026, no one appeared on behalf of the respondent, Ascendancy Financial Services Pvt. Ltd. Consequently, the tribunal set the respondent ex parte. The bench, comprising Justice N. Seshasayee (Member - Judicial), Arun Baroka (Member - Technical), and Indevar Pandey (Member - Technical), heard arguments from both sides and reserved its judgment.
Final Outcome
The respondent was set ex parte due to non-appearance. The tribunal reserved its judgment, meaning a final decision in the insolvency appeal will be pronounced at a later date.
Topics: Insolvency Appeal, NCLAT Procedure