Authority: National Company Law Appellate Tribunal Principal Bench, New Delhi
Order Date: 01.09.2026
Case Overview
The appeal (Comp. App. (AT) (Ins) No. 1300 of 2026) was filed by Vishal Ganpat Shinde, suspended director of Gokul Sugar Industries Ltd, against multiple respondents including Mohandas Somaiya & Ors, Chhataram, and Union Bank of India. The proceedings relate to underlying cases I.A. (IB) No. 1952 of 2025 and CP(IB) No. 366(MB)/2024 pending before the Adjudicating Authority (NCLT). Respondents alleged that the appellant has been deliberately avoiding appearance before the NCLT despite coercive processes being issued, thereby prolonging the proceedings.
Final Outcome
The NCLAT directed the appellant to personally appear before the Learned Adjudicating Authority (NCLT) on 07.09.2026 without fail. The tribunal dispensed with issuance of notice to respondent nos. 6, 7 & 8 (promoters of the corporate debtor). Multiple respondents were granted one week time to file replies to the appellant's delay condonation application. The tribunal noted the appointment of a new resolution professional, Ms. Ramanathan Bhuvaneshwari, replacing the erstwhile RP Shri Nehal Mahamulal Pathan (respondent no. 2), and directed the appellant to file an amended memo of parties. The appeal has been adjourned to 08.09.2026 for further hearing.
Topics: NCLAT Proceeding, Corporate Insolvency, Director Dispute
This content may not be immediately financially relevant as it pertains to procedural aspects of ongoing legal proceedings without disclosure of financial amounts, business impacts, or resolution outcomes.