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Judgment
20.02.2026: These appeals are against the impugned orders dated 25.11.2025, 11.12.2025 and 05.02.2026 passed by the Ld. NCLT, Ahmedabad in CP/48(AHM)2025. The Ld. Sr. Counsel for the Appellant is aggrieved of the fact the status quo order which was earlier granted on 11.11.2025 has since been extended without any rhyme or reason and there was no necessity to seek the information or issue notices to the regulators as has been done by the Ld. NCLT.
However, the Ld. Sr. Counsel appearing on behalf of the Respondent has objected to the submissions and submits no appeal has been filed against the initial order dated 11.11.2025 by which the status quo was granted and the subsequent orders dated 25.11.2025, 11.12.2025 and 05.02.2026, where only qua extension of interim order dated 11.11.2025 and as such these appeals are not maintainable if not filed against the initial order dated 11.11.2025 and further there is delay in filing of the appeals viz. Company Appeal (AT) Nos. 60 and 61 of 2026, though filed within the period of 90 days per Section 421 of the Companies Act, 2013 and in any case applications for condonation of delay have since been filed in both these appeals. The condonation is granted.
Since the grievance at this stage is the IA/131(AHM)2025 has not been taken up by the Ld. NCLT since 11.11.2025, hence in the circumstances, without giving any opinion on merits in these appeals and while condoning the delay in two appeals viz. Company Appeal (AT) Nos. 60 and 61 of 2026, we request the Ld. NCLT to take up the said application on the date fixed and to dispose it of as expeditiously as possible. All rights and contentions of both the parties shall remain open. It shall be for the Ld. NCLT to hear the main company petition viz. CP/48(AHM)2025, if possible, on the said date of hearing. These appeals are disposed of to the extent above. All pending applications viz I.A. Nos. 1327, 1328, 1329, 1330, 1331, 1332, 1333, 1334, 1338 and 1339 of 2026 in these appeals are also disposed of.