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NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Ashok Bhushan, J
Sushant Chhabra – Appellant
Versus
Catalyst Trusteeship Ltd. – Respondent
| Table of Content |
|---|
| 1. background of personal guarantor insolvency appeals (Para 1 , 2 , 3) |
| 2. parties' contentions on moratorium maintainability (Para 4 , 5 , 6 , 7) |
| 3. interim moratorium under section 96 ibc operative (Para 8 , 9 , 10 , 11 , 12) |
| 4. proceedings during moratorium non-est in law (Para 13 , 14 , 15 , 16) |
| 5. withdrawal effects do not retroactively validate filings (Para 17 , 18 , 19 , 20) |
| 6. prior pending applications bar subsequent ones (Para 21 , 22) |
| 7. withdrawal ends moratorium but not prior invalidity (Para 23 , 24) |
| 8. appeals allowed, fresh filings permitted (Para 25) |
JUDGMENT
Ashok Bhushan, J.
These Appeals have been filed by Personal Guarantors of Corporate Debtor (“CD”) M/s UM Autocomp Pvt. Ltd. (Now M/s UM Automotive Pvt. Ltd.) challenging order dated 17.02.2026 passed by National Company Law Tribunal, New Delhi Bench, Court-II admitting Section 95 application filed by Catalyst Trusteeship Ltd. being CP(IB)-450/ND/2025 in Catalyst Trusteeship Ltd. vs. Sushant Chhabra; and CP(IB)-446/ND/2025 in Catalyst Trusteeship Ltd. vs. Verinder Kumar Chhabra.
2. Company Appeal (AT) (Insolvency) No. 443 of 2026 has been filed by Sushant Chhabra challenging order dated 17.02.2026 admitti
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