Dismissed

Ia 6127/ND/2026 of Parmjit Gandhi v. Bhuvan Madan

NCLAT1 Sept 20266127/ND/2026

Case brief

AI extract

What is this about?

This order dismissed two insolvency appeals (No. 315/2026 and 316/2026) filed by Parmjit Gandhi against Athena India Opportunities. The NCLT Principal Bench observed that the appellant had unconditionally withdrawn the appeals due to a recent Supreme Court direction regarding the Committee of Creditors.

What did the court decide?

The appeals were dismissed as withdrawn unconditionally. Pending applications (I.A. Nos. 6127, 6128, 6071, 6130) were disposed of.

Ia 6127/ND/2026 of Parmjit Gandhi vs Bhuvan Madan — Insolvency and Bankruptcy | NCLAT (2026)

¶1

NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI

¶2

I.A. No. 6127, 6128 of 2026

¶3

¶4

Company Appeal (AT) (Insolvency) No. 315 of 2026

¶5

IN THE MATTER OF: Parmjit Gandhi …Applicant Versus Bhuvan Madan Resolution Professional of Arshiya Northern FTWZ Ltd. …Respondent

¶6

Present:

¶7

For Applicant : Mr. Shashank Agarwal and Mr. Keshav Kiradoo, Advocates.

¶8

For Respondent :

¶9

WITH

¶10

I.A. No. 6071, 6130 of 2026

¶11

In Company Appeal (AT) (Insolvency) No. 316 of 2026

¶12

IN THE MATTER OF: Parmjit Gandhi …Applicant Versus Athena India Opportunities & Ors. …Respondents

¶13

Present:

¶14

For Applicant : Mr. Shashank Agarwal and Mr. Keshav Kiradoo, Advocates.

¶15

For Respondents :

¶16

O R D E R (Hybrid Mode)

¶17

01.09.2026: I.A. No. 6127/2026 & I.A. No. 6071/2026 are the

¶18

applications for early hearing.

¶19

2. It is submitted because of the subsequent events, the appellant is no

¶20

longer interested in proceeding with these appeals viz . Company Appeal (AT)

¶21

(Insolvency) No. 315/2026 & Company Appeal (AT) (Insolvency) No. 316/2026 and as such, the appeals may be taken up today and the applications viz. I.A. No. 6128/2026 & I.A. No. 6130/2026 which have been filed seeking withdrawal of the captioned appeals be allowed.

¶22

3. It is the submission of the learned Counsel for the appellant in Civil Appeal Diary No(s). 35966/2026 vide order dated 11.06.2026, the Hon’ble Supreme Court directed as follows:

¶23

“4. CoC shall consider and decide petitioners Resolution Plan before the next date of hearing and the steps taken in the subject proceedings before NCLT or the steps taken by the CoC shall remain subject to the final outcome of this Appeal.”

¶24

4. In the light of the above, the appellant has decided to withdraw the captioned appeals unconditionally.

¶25

5. The learned Counsel for the Resolution Professional is also present and he submits the plan has already been approved by the Ld. NCLT.

¶26

6. Considering the submissions above, the appeal stands dismissed as withdrawn unconditionally. Pending applications are also disposed of.

¶27

[Justice Yogesh Khanna] Officiating Chairperson

¶28

[Barun Mitra] Member (Technical)

¶29

[Ajai Das Mehrotra] Member (Technical)

¶30

himanshu/md

¶31

I.A. Nos. 6127, 6128, 6071 & 6130 in Comp. App. (AT) (Ins.) No. 315 & 316 of 2026

¶32

2 of 2

Ia 6127/ND/2026 of Parmjit Gandhi v. Bhuvan Madan

Case brief

What is this about?

What did the court decide?

Ia 6127/ND/2026 of Parmjit Gandhi v. Bhuvan Madan

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Ia 5530/ND/2025 of Gujarat Industrial Development Corporation vs Zaveri & Co. Pvt. Ltd. & Ors.

Ia 4475/ND/2025 of Gujarat Industrial Development Corporation vs Zaveri & Co. Pvt. Ltd. & Ors.

Ia 5562/ND/2023 of Kanwar Raj Bhagat vs Gujarat Hydrocarbons and Power Sez Ltd. & Ors.

Ia 6053/ND/2026 of Devesh S/O Naresh Karda vs Tata Capital Housing Finance Limited

Ia 547/CN/2026 of B. Parvathaiah vs Chillale Rajesh

Ia 5547/ND/2026 of Kiran Hariraj Vishwakarma & Anr. vs Vikas Gopichand Khiyani

Ia 5545/ND/2026 of Rajiv Ranjan Sharma & Anr. vs Vikas Gopichand Khiyani

Ia 6195/ND/2026 of Subhash Ganpatrao Buty HUF through Its Karta Subhash Ganpatrao Buty vs Pankaj Bhattad Resolution Professional of Gigeo Construction Company Private Limited

Ia 6053/ND/2026 of Devesh S/O Naresh Karda vs Tata Capital Housing Finance Limited

Company Appeal(at) 182/ND/2026 of B S R & Associates LLP vs Serious Fraud Investigation Office

Company Appeal(at) 183/ND/2026 of N. Sampath Ganesh vs Serious Fraud Investigation Office

Ia 6128/ND/2026 of Parmjit Gandhi vs Bhuvan Madan

Ia 6130/ND/2026 of Parmjit Gandhi vs M/s Athena India Opportunities

Ia 6071/ND/2026 of Parmjit Gandhi vs M/s Athena India Opportunities