Authority: National Company Law Tribunal, New Delhi Court-IV
Order Date: 08.06.2026
Case Overview
The National Company Law Tribunal (NCLT), New Delhi Bench comprising Judicial Member Shri Mahendra Khandelwal and Technical Member Shri Atul Chaturvedi, heard an application filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. The case involves Rajeev Sharma as the Applicant/Financial Creditor versus Gayatri Hospitality and Realcon Ltd as the Respondent/Corporate Debtor. The matter was heard through a hybrid hearing (physical and video conference). Learned counsel presented arguments on behalf of both parties, with Mr. Aishvary Vikram and team representing the Financial Creditor and Sr. Advocate Mr. Sunil Fernandes with team representing the Corporate Debtor. An intervening party was also represented by Mr. Sumant Batra and team. Both parties cited various judgments in support of their respective arguments during the hearing.
Final Outcome
The Tribunal directed both parties to file their respective written submissions along with supporting judgments within one week's time from the order date. The matter has been listed for the next hearing on 01.07.2026. No substantive decision on the admission or rejection of the insolvency petition was made in this order.
Topics: Insolvency Proceeding, Corporate Debtor, NCLT Hearing