Case Note & Summary
The appeal was filed by Udayraj Patwardhan, the Resolution Professional of several companies, against an order dated 24.09.2026 from the National Company Law Tribunal, Mumbai. The order pertained to an application related to a resolution plan that had been approved by the Committee of Creditors on 12.02.2026. The application had not yet been heard, and the next hearing was scheduled for 06.11.2026. The Tribunal disposed of the appeal by requesting the Adjudicating Authority to take up the matter on the scheduled date and to expedite the hearing and disposal of the application. The Tribunal emphasized the importance of timely hearings in insolvency matters to facilitate efficient resolutions.
Headnote
A) Insolvency Law - Approval of Resolution Plan - Timely Hearing of Applications - Insolvency and Bankruptcy Code, 2016, Section Not mentioned - The appeal was filed against an order of the Adjudicating Authority regarding the hearing of an application related to a resolution plan approved by the Committee of Creditors. The Tribunal directed the Adjudicating Authority to hear and dispose of the matter expeditiously on the next scheduled date. Held that timely hearings are essential in insolvency proceedings to ensure efficient resolution (Paras 1-3).
Issue of Consideration
Whether the Adjudicating Authority should expedite the hearing of the application related to the approved resolution plan.
Final Decision
The Tribunal disposed of the appeal by directing the Adjudicating Authority to hear and dispose of the matter on 06.11.2026 as expeditiously as possible.
Law Points
- Insolvency proceedings
- approval of resolution plan
- hearing of applications
