Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 06.08.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) heard Comp. App. (AT) (Ins) No. 1300 of 2026 along with interlocutory applications IA No. 4981 and IA No. 5069 of 2026. The appeal has been filed by Vishal Ganpat Shinde, Suspended Director of Gokul Sugar Industries Ltd., against Mohandas Chhataram (through its partner Pankaj Somaiya) and other respondents. The matter involves insolvency proceedings against Gokul Sugar Industries Ltd. The specific applications before the tribunal are IA No. 5069 of 2026 (delay condonation application) and IA No. 4981 of 2026 (condonation of delay in refiling).
Final Outcome
The tribunal granted Respondent No. 3 (Union Bank of India) and Respondent No. 4 (SOLAPUR DISTRICT CENTRAL COOPERATIVE BANK) two weeks from August 6, 2026, to file their replies regarding both interlocutory applications. Notices were issued to Respondent Nos. 1, 2, and 5 to 8, with directions that steps along with process fee and requisites must be completed within three working days. The matter has been adjourned and listed for next hearing on September 1, 2026, under the same caption. The order was passed by Justice Mohammad Faiz Alam Khan (Member Judicial) and Arun Baroka (Member Technical) in hybrid mode.
Topics: Insolvency Appeal, Delay Condonation, NCLAT Proceedings