Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 03.07.2026
Case Overview
This matter concerns I.A. No. 4479 of 2026 in Company Appeal (AT) (Insolvency) No. 905 of 2026. The appellant is Bhawanishankar Sharma, a member of the Suspended Board of Directors of Supreme Housing and Hospitality Pvt. Ltd. The application was filed seeking an extension of time for submitting a bank draft of Rs. 215 crore. The Tribunal noted that an interim order previously granted had been vacated due to the appellant's failure to deposit the required amount within the directed timeframe.
Final Outcome
The Tribunal adjourned the matter to 06.07.2026 for further hearing on the application for extension of time. It was noted that a meeting of the Committee of Creditors (CoC) was scheduled for 3:00 PM on the order date (03.07.2026) to finalize Form G. The Resolution Professional was directed to await further orders from the Court before proceeding with the publication of Form G and to act in accordance with law thereafter.
Topics: Insolvency Proceeding, Time Extension, CoC Meeting