# In the matter of Asset Reconstruction Company (India) Ltd. vs. Umesh Garg

> NCLAT judgment dated 2026-04-06. Citation: TCN-2026-NCLAT-00074. The appeal was filed by Asset Reconstruction Company (India) Ltd., challenging an order dated…

- **Court:** NCLAT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLAT-00074
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/asset-reconstruction-company-india-ltd-vs-umesh-garg-29abad9d

## Summary

### Background

The appeal was filed by Asset Reconstruction Company (India) Ltd., challenging an order dated 28.01.2026 passed by the National Company Law Tribunal, Chandigarh Bench, in I.A. No. 84/2026.

## Facts

Asset Reconstruction Company (India) Ltd. filed an appeal challenging the order dated 28.01.2026 passed by the National Company Law Tribunal, Chandigarh Bench, in I.A. No. 84/2026.

The appellant's claim was rejected by the Resolution Professional, and they have filed I.A. No.83/2026 challenging this rejection.

The appellant argues that if their claim is accepted, it will have more than 67% in the CoC.

The adjudicating authority has directed that the approval of the resolution plan shall be subject to the outcome of I.A. No.83/2026.

I.A.83/2026 has been fixed for 20.04.2026 at 03:00 PM.

## Issues and analysis

### Issue 1: Whether the further process regarding voting of the resolution plan should await the decision on …

**Ratio:** The appellate tribunal held that further process regarding voting on the resolution plan

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**Reasoning:** The tribunal noted that I.A.83/2026 is still pending, and a question has been raised

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**Interpretation:** The decision implies that the outcome of the application challenging the

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**Application:** The adjudicating authority is directed to consider and decide the application

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## Parties

- **Judges:** Ashok Bh…; Indevar P…
- **Appellants:** Asset Reconstructi…
- **Respondents:** JCT L…; Umesh…; +1 more
- **Advocates:** Abhijeet…; Sonakshi…; +10 more

## Timeline

- **2026-01-28 — Order Da…**: Order passed by the adjudicating authority (National Company Law Tribunal, Chandigarh…
- **2026-04-06 — Appeal Fili…**: The date this appeal was filed by the…

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