Case Details

Case Name: Vikas Mittal vs. M/s Swatik Homebuild Pvt. Ltd.

Court/Authority: National Company Law Tribunal Chandigarh Bench (Court-II) (Special Bench)

Case Numbers: CP (IB) No. 134/Chd/Hry/2021 (Admitted), IA(I.B.C)/698(CH)2026, IA(I.B.C)/708(CH)2025, IA(I.B.C)/709(CH)2025, IA(I.B.C)/337(CH)2025, IA(I.B.C)/785(CH)2025, IA(I.B.C)/786(CH)2025, IA(I.B.C)/1468(CH)2025, CONT.A(IBC)/9(CH)2025, IA(I.B.C)/1779(CH)2025, IA(I.B.C)/1673(CH)2025

Date of Order: 25 May 2026

Next Hearing Date: 14 July 2026

Governing Law: Insolvency and Bankruptcy Code, 2016 (Sections 7, 19(2), 22, 60(5), 66), Rule 11 of NCLT Rules 2016, Regulation 30 IBBI

Period of Dispute: Corporate Insolvency Resolution Process admitted in 2021

Parties Involved

Petitioner/Applicant: Vikas Mittal (Financial Creditor/Applicant-IRP)

Respondent: M/s Swatik Homebuild Pvt. Ltd. (Corporate Debtor)

Legal Representatives: Multiple advocates including Mr. Aalok Jagga, Mr. APS Madaan, Mr. Sahil Lohan, Mr. Aryaman Jagga, Mr. Kumar Shashank, Ms. Anisha, Mr. Prashant Kumar, Mr. Nikita Menon, and Mr. Amrit Bhatia

Tribunal Members: Hon'ble Mr. Shishir Agarwal (Member Technical) and Hon'ble Mr. Mahendra Khandelwal (Member Judicial)

Issues / Allegations / Violations

The case involves multiple interlocutory applications filed in an ongoing Corporate Insolvency Resolution Process under Section 7 of IBC, 2016. The main application (IA(I.B.C)/698(CH)2026) seeks appointment of the Applicant-IRP (Vikas Mittal) as Resolution Professional based on the decision taken by the Committee of Creditors (CoC) in its 13th Meeting held on 24 March 2026. The application is filed under Section 22 of IBC read with Section 60(5) of IBC and Rule 11 of NCLT Rules, 2016.

Findings & Observations

The Tribunal noted that the issue related to the appointment of the Resolution Professional is pending before the National Company Law Appellate Tribunal (NCLAT) where the Hon'ble NCLAT has reserved its order. In view of this pending matter at the appellate level, the Tribunal found it appropriate to defer the hearing of the present Interlocutory Application.

Final Ruling & Enforcement

The Special Bench deferred all hearings and listed all the Interlocutory Applications before the Regular Bench on 14 July 2026. The order was signed by both Tribunal Members - Mr. Shishir Agarwal (Member Technical) and Mr. Mahendra Khandelwal (Member Judicial). The deferral means no substantive decisions were made on any of the applications pending the outcome of the NCLAT proceedings regarding the RP appointment issue.