Case Details
Case Name: Union Bank of India vs. Anurag Jain, Resolution Professional of Vemb Lifestyle Pvt. Ltd. & Anr.
Court/Authority: National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi
Case Number: Company Appeal (AT) (Insolvency) No. 956 of 2026
Interlocutory Applications: I.A. No. 3808 of 2026, I.A. No. 3814 of 2026
Order Date: May 22, 2026
Parties Involved
Appellant: Union Bank of India
Respondents:
- Anurag Jain, Resolution Professional of Vemb Lifestyle Pvt. Ltd.
- Another Respondent (not named in detail)
Legal Representatives:
For Appellant: Mr. J. Rajesh, Mr. Dhrupad Vaghani, Ms. Gaytari Mohite, Mr. Md. Arsalan Ahmed, Mr. Yashwardhan Aggarwal, Mr. Ali Abbas Masoodi, Mr. Ashwath Reddy, Advocates
Procedural History & Current Status
This is an initial procedural order dealing with two interlocutory applications filed in connection with the main appeal:
I.A. No. 3814 of 2026:
- Application prayed for condonation of refiling delay of 5 days in refiling the appeal
- Tribunal found sufficient cause shown and condoned the 5-day refiling delay
I.A. No. 3808 of 2026:
- Application for delay condonation (specific delay period not specified in order)
- Tribunal issued notice on this delay condonation application
- Allowed two weeks for filing reply to the application
- Allowed two weeks thereafter for filing rejoinder
Next Hearing: The appeal has been listed for next hearing on July 20, 2026.
Note on Case Substance
The current order is purely procedural and deals only with condonation of delays in filing/refiling the appeal. The substantive issues regarding the insolvency resolution process of Vemb Lifestyle Pvt. Ltd. and the specific grounds of Union Bank of India's appeal against the Resolution Professional's actions have not been addressed or detailed in this order. The factual matrix of the underlying dispute, alleged violations, financial impact, and substantive legal arguments will likely be addressed in subsequent hearings.