Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 15.06.2026
Case Overview
Tata Capital Limited (Appellant) has filed Company Appeal (AT) (Ins) No. 1067 of 2026 challenging the propriety of an order dated 13.04.2026 passed by the NCLT on IA No. 2828/2025 in CP(IB) No. 3138/MB/2019. The impugned order was passed by the NCLT while exercising jurisdiction under Section 60(5) read with Section 52(5) of the Insolvency and Bankruptcy Code, 2016. The consequential effect of this order was the denial of release of the Appellant's secured interest. The appeal is accompanied by two interlocutory applications: IA No. 4188 of 2026 (for condonation of delay in refiling) and IA No. 4200 of 2026 (exemption application). The Respondent in the matter is Sanjay Mahajan in his capacity as Liquidator.
Final Outcome
The NCLAT condoned the 12-day delay in refiling the company appeal and disposed of IA No. 4188 of 2026. Regarding IA No. 4200 of 2026 (Exemption Application), the Appellant was directed to supply legible copies of documents by the next date of hearing. The Respondent (Liquidator) was granted three weeks from June 15, 2026, to file a counter affidavit to the company appeal. The matter has been listed for admission hearing on August 3, 2026.
Topics: Insolvency Proceedings, Secured Creditor Rights