Richa India Insolvency Appeal Adjourned to July 2026

Case Details

Case Name: Prakash Joshi vs. Edelweiss Asset Reconstruction Company and Anr.

Court/Authority: National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi

Case Number: Company Appeal (AT) (Insolvency) No. 421 of 2026

Order Date: 25 May 2026

Parties Involved

Appellant: Prakash Joshi, Suspended Director of Richa India Infra Development Pvt. Ltd.

Respondents: Edelweiss Asset Reconstruction Company (Respondent 1) and Another (Respondent 2)

Legal Representation: For the Appellant: Ms. Anju Jain, Mr. Hitesh Sachar, Ms. Prachie Jain, Advocates. For Respondent-1: Ms. Atiga Singh, Mr. Krishna Agarwal, Advocates.

Final Ruling & Enforcement

• The NCLAT has adjourned the hearing of the insolvency appeal.
• The next date of hearing is scheduled for 16 July 2026.
• The adjournment was granted at the request of the Financial Creditor (Edelweiss ARC).
• The reason for the request was that settlement proposals from the Appellant (Prakash Joshi) are still under consideration by the higher authorities of the bank and this process requires more time.
• The interim order, which was previously passed, is to continue in force until the next hearing. The specific nature and details of this interim order are not described in the provided text.
• The order was passed by a bench comprising Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member (Technical)).