Authority: National Company Law Tribunal, New Delhi Court-IV (Special Bench)
Order Date: 15 July 2026
Case Overview
The National Company Law Tribunal (NCLT) heard matters related to the corporate insolvency resolution process of Sarvottam Realcon Pvt Ltd under Section 7 of the Insolvency & Bankruptcy Code, 2016. The primary application before the tribunal was IA/1165/ND/2026, filed by the Chairman of the Monitoring Committee as a progress report covering the period from 13 February 2026 to 12 March 2026. This filing was made in compliance with the tribunal's previous order dated 30 July 2024. The tribunal noted that subsequent progress reports had already been taken on record through orders dated 20 April 2026 (in IA/1610/ND/2026) and 22 May 2026 (in IA/2276/ND/2026).
Representation included Adv. Gulshan Kumar Sachdev appearing for the applicant in several connected applications (IA/1472/ND/2022, IA/1137/ND/2022 & IA/1220/ND/2022), while Kotak Mahindra Bank was represented by multiple advocates including Adv. Rachit Mittal and Adv. Parish Mishra, along with their legal manager Ms. Prakshi Agarwal. The Chairman of the Monitoring Committee was represented by Adv. Yash Tyagi and Adv. Utkarsh Aswal along with Mr. Sandeep Goel.
Final Outcome
The tribunal admitted the progress report for the period 13 February 2026 to 12 March 2026 subject to all just exceptions. IA/1165/ND/2026 was allowed and disposed of. Multiple related applications (Restoration Application /105/ND/2025, /106/ND/2025, /108/ND/2025, IA/1137/ND/2022, IA/1220/ND/2022, IA/1472/ND/2022, Restoration Application /57/ND/2025, IA/2250/ND/2026, and IA/1874/ND/2026) were listed for next hearing on 10 August 2026 before the Regular Bench.
Topics: Insolvency Proceedings, Real Estate Sector