Case Note & Summary
The appeal was filed by CFM Asset Reconstruction Pvt. Ltd., a Financial Creditor, challenging the order of the Adjudicating Authority dated 15.04.2026. The Adjudicating Authority had dismissed the appellant's application for early hearing as infructuous, given that a hearing was already scheduled for 12.06.2026. The appellant contended that an application for the replacement of the Resolution Professional, filed under I.A. No. 3055 of 2025, had been pending for about a year without resolution and required urgent attention. The appellant asserted that there was no opposition to the replacement of the Resolution Professional. The Tribunal noted that since the matter was already fixed for hearing, the appeal need not be entertained but encouraged the Adjudicating Authority to consider the pending application for replacement at the earliest opportunity. Consequently, the appeal was disposed of with this observation.
Headnote
A) Insolvency Law - Appeal for Early Hearing - Dismissal of Appeal - Insolvency and Bankruptcy Code, 2016 - The appellant challenged the dismissal of an application for early hearing regarding the replacement of the Resolution Professional, which was deemed infructuous as a hearing date was already set. The court observed that the Adjudicating Authority should consider the application for replacement on the next date or as early as possible (Paras 1-2).
Issue of Consideration
Whether the appeal for early hearing regarding the replacement of the Resolution Professional should be entertained.
Final Decision
The appeal was disposed of with the observation that the Adjudicating Authority may consider and decide the application for replacement of the Resolution Professional at the earliest opportunity.
Law Points
- Insolvency proceedings
- Financial Creditor rights
- Adjudicating Authority powers
Case Details
2026 LawText (NCLAT) (05) 50
Comp any Appeal (AT) (Ins) No. 931 of 2026
Justice Ashok Bhushan, Indevar Pandey
Mr. Krishnendu Datta, Mr. Aman Varma, Mr. Rishabh Agarwal, Ms. Riya Wasade, Ms. Niharika Sharma, Ms. Minal Mishra, Ms. Pratiksha Udeshi, Ms. Rubina Khan
CFM Asset Reconstruction Pvt. Ltd.
Snehal Kamdar, Resolution Professional of Somerset Construction Pvt. Ltd.
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Nature of Litigation
Appeal against the dismissal of an application for early hearing in insolvency proceedings.
Remedy Sought
The appellant sought an early hearing for the replacement of the Resolution Professional.
Filing Reason
The application for replacement of the Resolution Professional was pending for about a year.
Previous Decisions
The Adjudicating Authority had already fixed a hearing date for 12.06.2026.
Issues
Whether the appeal for early hearing should be entertained
Whether the application for replacement of the Resolution Professional should be decided promptly
Submissions/Arguments
The appellant argued for the urgent need to resolve the pending application for replacement of the Resolution Professional.
The respondent did not oppose the replacement of the Resolution Professional.
Ratio Decidendi
The Tribunal emphasized the importance of timely resolution of pending applications in insolvency proceedings, particularly when there is no opposition to the relief sought.
Judgment Excerpts
This appeal has been filed by the appellant a Financial Creditor challenging the order of Adjudicating Authority dated 15.04.2026.
the appeal need not be entertained, we, however, observe that Adjudicating Authority may consider and decide the application on the next date or as early as possible regarding replacement of the Resolution Professional.
Procedural History
The appellant filed an application for early hearing which was dismissed by the Adjudicating Authority on 15.04.2026. The appeal was subsequently filed challenging this dismissal.
Acts & Sections
- Insolvency and Bankruptcy Code:
