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

Order Date: 24.06.2026

Case Overview

This is an appeal (Company Appeal (AT) (Ins) No. 1082 of 2026) filed by Ankur Singh (Appellant) against an order dated 11.06.2026 passed by the National Company Law Tribunal (NCLT), Allahabad Bench, Prayagraj. The NCLT order had admitted an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by the Operational Creditor, Alakhram Infrastructure Pvt. Ltd. (Respondent No. 1), initiating the Corporate Insolvency Resolution Process (CIRP) against the Appellant. The Appellant contended that a pre-existing dispute was raised before the receipt of the statutory notice under Section 8 of the IBC dated 29.08.2024. The dispute centered on the Appellant's claim that the Operational Creditor did not perform its contract in full, performed defective work, and caused losses. The Appellant stated it was compelled to issue three work orders to third-party contractors on 09.05.2024 to complete the leftover work and had made payments to them. A key piece of evidence was an email sent by the Appellant to the Respondent on 10.08.2024, which elaborately raised these issues and was presented as proof of a genuine and bona fide dispute. The Intervenor, AU Small Finance Bank, submitted that the Appellant was not a defaulter with them. The Interim Resolution Professional (IRP/Respondent No. 2) reported that only one claim from Respondent No. 1 had been received so far.

Final Outcome

The NCLAT bench, after hearing submissions and perusing the record, stayed the operation of the impugned NCLT order dated 11.06.2026 until the next date of hearing. The tribunal found merit in the Appellant's argument regarding the pre-existing dispute, noting that the NCLT itself had acknowledged its existence in paragraph 31 of its judgment but had erred in not assessing its substance adequately. The stay was granted pending further proceedings. Replies are to be filed by Respondents within two weeks, with a rejoinder by the Appellant within one week thereafter. The matter is listed for the next hearing on 21.07.2026.

Topics: Insolvency Proceedings, Contract Dispute