NCLAT issues notice and grants interim stay on Adjudicating Authority's order directing Sandeep Jain and three other promoters to contribute Rs 1.5 Crore in a preferential transaction case.
The appeal challenges the order passed under Sections 43 and 44 of the Insolvency and Bankruptcy Code, 2016, regarding a transaction where the amount was received by a different respondent.
The tribunal has scheduled the next hearing for July 22, 2026, for the main appeal and May 18, 2026, for two connected appeals.