Case Note & Summary
The appeal was filed by HDFC Bank Limited against an order dated 21.08.2026 from the National Company Law Tribunal, Kolkata, concerning three intervention applications. The appellant's counsel submitted that an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) was filed by the Committee of Creditors (CoC) through the Resolution Professional, which was pending for orders. Meanwhile, intervention applications were moved by an operational creditor and two prospective resolution applicants, leading to a request for a timely hearing. The Tribunal heard the submissions and deemed it appropriate to request the Adjudicating Authority to take up the applications on 21.09.2026 and dispose of them within three weeks. The appeal was ultimately disposed of with this direction, ensuring that the pending applications were also addressed.
Headnote
A) Insolvency Law - Section 12A IBC - Timely Disposal of Applications - The appeal sought directions for the Adjudicating Authority to hear and dispose of intervention applications along with an application under Section 12A of the IBC. The Tribunal directed that the applications be heard on the same day and disposed of preferably within three weeks, emphasizing the need for timely resolution in insolvency matters. Held that the appeal was disposed of with directions to the Adjudicating Authority (Paras 6-7).
Issue of Consideration
Whether the Adjudicating Authority should hear and dispose of the pending applications in a timely manner.
Final Decision
The appeal was disposed of with directions to the Adjudicating Authority to hear the applications on 21.09.2026 and dispose of them preferably within three weeks.
Law Points
- Insolvency proceedings
- Section 12A IBC
- timely disposal of applications
