Authority: National Company Law Appellate Tribunal, Principal Bench, New Delhi
Order Date: 18 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard arguments in two connected company appeals related to insolvency proceedings involving Vilas Transcore Ltd. The appeals are Company Appeal (AT) (Insolvency) No. 1667 of 2024 and Company Appeal (AT) (Insolvency) No. 1798 of 2024. The appellant in both cases is Vilas Transcore Ltd., while the respondents include Rakesh Kumar Tulsyan and others. A contempt case (Contempt Case (AT) No. 7 of 2025) was also listed in connection with Company Appeal (AT) (Insolvency) No. 1798 of 2024. The matter was heard in hybrid mode with multiple senior advocates representing the parties, including Mr. Abhijeet Sinha for the appellant and Mr. Vaibhav Gaggar and Mr. Gaurav Mitra for the respondents.
Final Outcome
The bench comprising Justice Sharad Kumar Sharma (Member Judicial), Arun Baroka (Member Technical), and Indevar Pandey (Member Technical) reserved judgment after hearing both sides. The final ruling on the insolvency appeals and connected contempt case will be delivered at a future date.
Topics: Insolvency Appeal, NCLAT Proceedings, Corporate Litigation