Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: August 6, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1300 of 2026 along with I.A. No. 4981 and 5069 of 2026. The appeal has been filed by Vishal Ganpat Shinde, the Suspended Director of Gokul Sugar Industries Ltd., against Mohandas Chhataram (through its Partner Pankaj Somaiya) and Others. The matter appears to relate to insolvency proceedings concerning Gokul Sugar Industries Ltd.
The tribunal noted that notice on behalf of Respondent No. 3 (Union Bank of India) had been received by advocate Mr. Dhrupad Vaghani, and notice on behalf of Respondent No. 4 (SOLAPUR DISTRICT CENTRAL COOPERATIVE BANK) had been received by advocate Mr. Himanshu Shembekar.
The tribunal granted Respondent No. 3 (Union Bank of India) and Respondent No. 4 (SOLAPUR DISTRICT CENTRAL COOPERATIVE BANK) two weeks' time to file their replies specifically regarding I.A. No. 5069 of 2026 and I.A. No. 4981 of 2026, which are applications for delay condonation and condonation of delay in refiling.
Additionally, the tribunal issued notice to Respondent No. 1, 2, and 5 to 8, directing that steps along with process fee and requisites be taken within three working days from the order date.
Final Outcome
The matter has been listed for the next hearing on September 1, 2026, under the same caption. The order represents procedural directions for serving notices and filing replies rather than a substantive decision on the merits of the case.
Topics: Insolvency Appeal, Procedural Hearing, Banking Respondents