Case Details

Case Name: Ram Kishor Arora Suspended Director of Supertech Ltd. vs Union Bank of India & Anr

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

Case Number: Comp. App. (AT) (Ins) No. 406 of 2022

Interlocutory Applications: I.A. No. 1589, 2250, 2251, 2760, 2762 of 2026

Hearing Date: 04.05.2026

Mode: Hybrid Mode

Parties Involved

Appellant(s): Ram Kishor Arora (Suspended Director of Supertech Ltd.)

Respondent(s): Union Bank of India & Anr

Legal Representation for Appellant: Mr. Abhijeet Sinha, Sr. Advocate with Mr. Mudit Sharma, Ms. Nandini Sharma, Mr. Sachin Sharma, Mr. Shashank Shekhar Pandey, Mr. Ritesh Dhyani, Ms. Heena Kochar, Advocates.

Other Legal Representatives Present:

  • Multiple advocates representing various applicants in I.A. Nos. 5796, 3776 of 2023
  • Mr. Arvind Nayyar, Sr. Advocate for IFCI Ltd.
  • Mr. Sunil Fernandes, Sr. Advocate for Union Bank of India
  • Advocates for home buyers (I.A. No 2762 of 2026)
  • Mr. Sunil Mathew, Mr. M.P. Sahay for Project EV3
  • Mr. M.P. Sahay for Project EV2 and other projects
  • Mr. Ravindra Kumar, Sr. Advocate for NOIDA Authority
  • Mr. Ritin Rai, Sr. Advocate for NBCC
  • Mr. Pankaj Pandey for GNIDA (Greater Noida Industrial Development Authority)
  • Mr. Amar Gupta for YEIDA (Yamuna Expressway Industrial Development Authority)
  • Mr. Rajiv Jain, Amicus Curiae with supporting advocates

Proceedings

The Tribunal noted that the order of the Hon'ble Supreme Court dated 28/04/2026 had been placed on record. The bench heard arguments from:

  • Shri Rajiv Jain, learned Amicus Curiae
  • Counsel for Noida Authority, Greater Noida Authority & Yamuna Expressway Authority
  • Mr. Sunil Fernandes, Sr. Counsel for the Consortium of Lenders
  • Mr. Arvind Nayyar, Sr. Advocate for IFCI Limited and L&T Finance
  • Counsel for Homebuyers representing 16 Projects which have been handed over to NBCC
  • Counsel for homebuyers relating to other Projects which are not NBCC Projects
  • Counsel for the Appellant
  • Counsel for Union Bank of India
  • Counsel for lenders and financial creditors
  • Authorized representatives of all homebuyers of 16 NBCC Projects

Final Ruling & Enforcement

The Tribunal adjourned the matter and stated: "Orders day after tomorrow." The bench comprised Justice Ashok Bhushan (Chairperson) and Barun Mitra (Member Technical).