Prime Focus has provided an update on the ongoing appellate proceedings before the National Company Law Appellate Tribunal (NCLAT) concerning the appeal, Comp. App. (AT) (Ins.) No. 850 of 2026. The appeal was listed on May 11, 2026, before the Hon’ble Chairperson, NCLAT, in New Delhi.
The NCLAT has decided to continue the interim order dated May 8, 2026. This order directs the Interim Resolution Professional not to proceed with any further steps following the impugned order from the National Company Law Tribunal (NCLT). The matter has been adjourned to May 12, 2026, for further hearing.
The proceedings involve Nishant Avinash Fadia as the appellant, with Raspalfa Services Private Limited and another party as respondents. Legal representation for the appellant includes senior advocates Mr. Arun Kathpalia and Mr. Abhijeet Sinha, among others. The respondents are represented by senior advocates Mr. Gopal Jain and Mr. Sunil Fernandes, along with their legal teams.
The NCLAT has permitted the appellant to file a hard copy of the order and an additional affidavit during the course of the day, provided a copy is served to the other side.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).