Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 07 August 2026
Case Overview
This appeal (Company Appeal (AT) (Insolvency) No. 1436 of 2026) has been filed by Deepak Arora, the suspended director of Standard Motocorp Pvt. Ltd., against an order dated 28 July 2026 from the National Company Law Tribunal (NCLT). The impugned order admitted a petition under Section 9 of the Insolvency and Bankruptcy Code filed against the corporate debtor, Standard Motocorp Pvt. Ltd., and initiated Corporate Insolvency Resolution Process (CIRP). The respondent is Saroj Didwania, proprietor of Creations. The appellant, without prejudice to their rights and contentions, expressed willingness to settle the matter by depositing the entire amount claimed in the original insolvency petition.
Final Outcome
The NCLAT bench comprising Justice Yogesh Khanna (Officiating Chairperson) and technical members Barun Mitra and Ajai Das Mehrotra granted an interim stay on further steps in pursuance of the impugned order until the next hearing date. The appellant was directed to deposit the entire amount stated in Part IV of the original petition in the form of a Fixed Deposit Receipt (FDR) in the name of 'Registrar, National Company Law Appellate Tribunal, New Delhi' within three days. The FDR must be initially for a period of six months with an automatic renewal clause. The matter has been listed for next hearing on 14 August 2026.
Topics: Insolvency Appeal, Corporate Debtor, Interim Stay