Vinod Anand Vs Golden Rolls Private Limited (NCLAT Delhi)
The appeal before the NCLAT, Delhi concerned the rejection by the NCLT, Delhi Bench of the appellant’s application to file an additional affidavit after Section 7 proceedings under the Insolvency and Bankruptcy Code, 2016 had been revived pursuant to a remand order directing the matter to be decided de novo. The NCLAT observed that procedural rules are intended to facilitate justice and should not be rigidly applied where they may deprive a party of an effective opportunity to present its case. It emphasized that proceedings before the NCLT are governed by Section 424 of the Companies Act, 2013, requiring adherence to principles of natural justice.
The appellant had initiated proceedings under Section 7 of the IBC alleging that financial assistance of ₹2,28,87,885 carrying interest at 9% compounded annually had been extended to the company. Separate proceedings under Sections 241 and 242 of the Companies Act, 2013 were also pending. The NCLT dismissed the Section 7 application on 09.10.2025 solely on the basis that the petition under Sections 241 and 242 had been dismissed. The NCLAT, by order dated 19.12.2025, set aside that order, revived the Section 7 proceedings and directed that they be heard afresh in accordance with law.
