Authority: National Company Law Tribunal, New Delhi Court-IV
Order Date: July 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) New Delhi Court-IV heard multiple interconnected applications including a contempt petition (Contempt Petition/11/ND/2026) within the main insolvency petition (IB/198/ND/2022). The matter involves M/s. Sawaria Seth Infratech Pvt. Ltd. as the applicant versus M/s Nitya Realtech Pvt. Ltd. as the respondent under Section 9 of the Insolvency & Bankruptcy Code, 2016. The bench comprised Hon'ble Member (Judicial) Shri Mahendra Khandelwal and Hon'ble Member (Technical) Shri Atul Chaturvedi. Multiple parties were represented at the hybrid hearing (physical and video conference), including representatives for Phoenix ARC (Mr. Dhananjaya Sud, Adv.), the Respondent (Adv. Priyesh Srivastava in IA/3110/ND/2025 & IA/24/ND/2023), the Resolution Professional (Adv. Sagar Arora), and the Suspended Director (Adv. Prakhyat Sharma).
Final Outcome
The Tribunal adjourned the case to August 5, 2026, citing "paucity of time" as the reason for the adjournment. The order was signed by Member (Technical) Shri Atul Chaturvedi. The matter remains pending before the NCLT.
Topics: Insolvency Proceedings, NCLT Adjournment