Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 13.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1071 of 2026 between Steel Authority of India Ltd.-IISCO Steel Plant as the Appellant and Sanjeev Maheshwari, Liquidator of U.B. Engineering Limited (In Liquidation) as the Sole Respondent. The appeal concerns insolvency proceedings involving U.B. Engineering Limited which is currently under liquidation. The tribunal heard arguments from Mr. Somdutta Bhattacharya, Advocate for the Appellant, and Mr. Ravi Raghunath along with Mr. Namanjeet Singh Bhatia and Mr. Aniruth Purushottaman, Advocates for the Respondent.
Final Outcome
The NCLAT bench comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical) adjourned the matter to August 5, 2026. The tribunal granted the respondent liquidator two weeks to file a reply to the appeal contentions, with an advance copy to be provided to the appellant's counsel. The appellant was given one week thereafter to file a rejoinder if desired. No substantive decision on the merits of the case was made in this order.
Topics: Insolvency Appeal, Corporate Litigation, Steel Sector