Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 20.08.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1301 of 2026 along with I.A. No. 4976 of 2026. The appeal was filed by Panshul Agro Food LLP (Appellant) against State Bank of India & Ors. (Respondents). The specific matter before the tribunal was an application (I.A. No. 4976 of 2026) seeking condonation of a 36-day delay in refiling the appeal.
The Appellant's counsel, Mr. Keith Varghese, argued that the delay occurred due to reasons beyond the control of the appellant as detailed in paragraphs 3 to 9 of the application. The Respondent No. 1 (State Bank of India), represented by Mr. Siddharth Sangal and other advocates, opposed the condonation application on the grounds that the delay had not been properly explained.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member Judicial) and Naresh Salecha (Member Technical) considered the explanations provided in the application. The tribunal concluded that the 36-day delay in refiling the appeal had been sufficiently explained. Accordingly, the application (I.A. No. 4976 of 2026) was allowed and the delay was condoned. The main appeal (Comp. App. (AT) (Ins) No. 1301 of 2026) was heard on the question of admission and issuance of notice, with the order reserved for future determination.
Topics: Insolvency Appeal, Procedural Delay, Banking Dispute