Authority: National Company Law Tribunal, New Delhi Bench (Court – II)
Order Date: 06.07.2026
Case Overview
This is an order in an Interlocutory Application (IA-2806/ND/2026) arising from the main insolvency application (IB-97/ND/2022). The application was filed by Indiabulls Housing Finance Limited (the Applicant) against Dr. Subhash Chandra (the Respondent) under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The matter was heard in a hybrid mode (VC and Physical) by a bench comprising Hon'ble Member (Judicial) Sh. Ashok Kumar Bhardwaj and Hon'ble Member (Technical) Sh. Atul Chaturvedi. Advocates were present for the Respondent and the Resolution Professional.
Final Outcome
The bench did not adjudicate on the merits of the insolvency application. Instead, it issued a procedural direction to transfer the matter. The Interlocutory Application (IA-2806/ND/2026) was ordered to be "List[ed] before appropriate Bench viz. Third Member (Hon'ble Mr. Nilesh Sharma, Member (J))." This indicates the case has been transferred for further hearing or consideration before a different bench presided over by Hon'ble Member (Judicial) Nilesh Sharma.
Topics: Insolvency Proceeding, NCLT, Corporate Debt