Devendra Jain vs Respondent(S)

NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Comp. App. (AT) (Ins) No. 246 of 2026 & I.A. No. 898 of 2026 IN THE MATTER OF: Devendra Jain ...Appellant(s)

Versus

...Respondent(s)

Present: For Appellant : Mr. Kunal Kanungo, Ms. Tanushree S. Advocates

For Respondents :

ORDER

(Hybrid Mode)

17.02.2026 I.A. No. 898 of 2026 This Application has been filed by

the Appellant for condonation of 13 days delay in filing the Appeal. This

Application and Appeal has been filed by the liquidator of the Corporate Debtor.

2 We find sufficient cause has been shown in Paragraph 2 of the Application

for condonation of delay.

3. Delay condoned.

Comp. App. (AT) (Ins) No. 246 of 2026 This Appeal has been filed against

the order passed by the Adjudicating Authority dated 31/10/2025 in

IA (Liq.) Progress Report/ 748/2025.

2. Liquidator has submitted a Progress report, which was not accepted by

Adjudicating Authority and was rejected.

3. Ld. Counsel for Appellant submits that by rejection of the progress report,

there may be vacuum in liquidation period and further the reports having been

rejected, which may have adverse effect on the liquidation proceedings.

4. In so far as the rejection of progress report, we do not find any error in the

order of the Adjudicating Authority.

5. Adjudicating Authority, not being satisfied by the progress report, has not

accepted the same. In event the liquidator seeks any particular direction or order

from the Adjudicating Authority, it is always open for the liquidator to file an

appropriate application in the liquidation proceedings.

6. With these observations, we dismiss the Appeal.

[Justice Ashok Bhushan] Chairperson

[Indevar Pandey] Member (Technical) Prerana/md

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