Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 16 July 2026
Case Overview
The appeal (Comp. App. (AT) No. 168 of 2026) was filed by Titus Babu (Appellant) against Sintex Industries Ltd. (SIL) (Respondent). The core of the dispute pertains to the corporate insolvency resolution process of Sintex Industries Ltd. The Appellant, represented by Mr. George Mathai, Advocate, contends that 135,000 of his equity shares could not be legally extinguished by the approval of a resolution plan that was submitted subsequent to the initiation of the insolvency process against the company. The Respondent, represented by Mr. Raheel Patel and others, countered this argument by submitting that after the plan's approval, no rights pertaining to the shares remained with the appellant.
Final Outcome
The Appellate Tribunal, comprising Justice Mohammad Faiz Alam Khan (Member-Judicial) and Naresh Salecha (Member-Technical), heard arguments from both parties solely on the question of admitting the appeal for a full hearing. The Tribunal did not make a final ruling on the merits of the case. Instead, it reserved its order on the admission of the appeal and provided an opportunity for both the Appellant and the Respondent to file written submissions on this preliminary issue. These submissions are limited to a maximum of two to three pages and must be filed within four days from the order date (i.e., by 20 July 2026). The final decision on whether to admit the appeal is pending.
Topics: NCLAT, Insolvency, Equity Shares