Case Note & Summary
The National Company Law Appellate Tribunal (NCLAT) dealt with two appeals filed by the Resolution Professional (RP) and the Successful Resolution Applicant (SRA) challenging an order dated 17.04.2026. The order questioned the separate opinions provided by the Judicial Member and Technical Member in Company Petition (IB) No. 995/(ND)/2018 concerning the approval of a resolution plan. The Judicial Member had found the plan compliant with Section 30(2) of the Insolvency and Bankruptcy Code, 2016, while the Technical Member had taken an opposing view and framed separate questions. The President of the NCLT referred the matter to a Third Member for a conclusive opinion. The NCLAT observed that due to the existence of separate opinions, the appeals could not be entertained at that stage. The court noted that the appellants could refer to the findings of both members while addressing the questions. The NCLAT emphasized the need for the Third Member to expedite the matter, given that the plan had been approved in 2020. Consequently, the appeals were disposed of without further deliberation.
Headnote
A) Insolvency Law - Separate Opinions - Challenge to Separate Opinions of Members - Insolvency and Bankruptcy Code, 2016, Section 30(2) - Appeals were filed challenging the separate opinions of the Judicial Member and Technical Member regarding the approval of the plan. The court held that the appeals cannot be entertained at this stage as the matter was referred to a Third Member for opinion, allowing parties to rely on both opinions while addressing the questions (Paras 1-3).
Issue of Consideration
Whether the appeals challenging the separate opinions of the Judicial Member and Technical Member can be entertained.
Final Decision
The NCLAT dismissed the appeals, stating that they could not be entertained at this stage due to the referral to a Third Member for opinion. The court allowed the appellants to refer to both opinions while addressing the questions.
Law Points
- Insolvency proceedings
- separate opinions
- plan approval
- compliance with statutory provisions
