Case Details
- Case Name: Sanjeev Kumar Jain (Suspended Director of Parsvnath Developers Limited) vs Asset Reconstruction Company (India) Ltd & Anr.
- Court/Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
- Case Number: Comp. App. (AT) (Ins) No. 900 of 2026
- Order Date: 21 May 2026
Parties Involved
Appellant:
- Sanjeev Kumar Jain (Suspended Director of Parsvnath Developers Limited)
- Legal Representation: Mr. Arun Kathpalia, Sr. Advocate with Mr. Rajat Jojenja, Mr. Manoranjan Sharma, Mr. Arpit Dwivedi, Mr. Karan Rajpurohit, Ms. Sakshi Kapoor, Mr. Abhishek Anand (Advocates)
Respondents:
- Asset Reconstruction Company (India) Ltd (R1)
- Legal Representation: Mr. Abhijeet Sinha, Sr. Advocate with Ms. Meghna Mishra, Mr. Sidharth Joshi, Ms. Ujwala Gupta, Mr. Shubham Madan (Advocates)
- Insolvency Resolution Professional (IRP)
- Legal Representation: Mr. Sandeep Bajaj, Mr. Vikas Maini, Mr. Ankit Banati (Advocates)
- Intervenors
- Legal Representation: Mr. Gaurav Mitra, Sr. Advocate with Ms. Aakashi Lodha, Mr. Namanjeet Bhatia (Advocates)
Tribunal Members:
- Justice Ashok Bhushan (Chairperson)
- Indevar Pandey (Member - Technical)
Procedural Update
- The appellant's counsel submitted that defects in the filing have been cured
- The tribunal listed the matter for next hearing on 25 May 2026
- The case will be heard without defects as prayed for by the parties
- The order was passed in hybrid mode
Current Status
- The appeal remains pending before the NCLAT
- The substantive issues of the insolvency proceedings have not been addressed in this procedural order
- The next hearing is scheduled for May 25, 2026