# Phantom Studios India Pvt. Ltd. vs. Eros International Media Ltd.

> NCLAT judgment dated 2026-09-30. Citation: TCN-2026-NCLAT-00294. This is an appeal preferred by Phantom Studios India Pvt. Ltd., identified as an Operational…

- **Court:** NCLAT
- **Order date:** 30 Sept 2026
- **Citation:** TCN-2026-NCLAT-00294
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/phantom-studios-india-pvt-ltd-vs-eros-international-med-uszc5

## Summary

### Background

This is an appeal preferred by Phantom Studios India Pvt. Ltd., identified as an Operational Creditor, whose application was previously dismissed by the learned Adjudicating Authority. The matter is before the National Company Law Appellate Tribunal.

## Facts

The Appellant is Phantom Studios India Pvt. Ltd.

The Respondent is Eros International Media Ltd.

No one was present for the Appellant during the hearing on 30.09.2026.

The appeal was preferred by an Operational Creditor.

The Operational Creditor's application had been dismissed by the learned Adjudicating Authority.

The Tribunal directed that notice be issued to the Respondent.

Steps along with process fee and requisites are to be taken within three working days.

The appeal is listed for 17.11.2026 under the caption 'for admission (after notice)'.

## Issues and analysis

### Issue 1: Whether notice should be issued to the Respondent in this appeal preferred by the Operational …

**Ratio:** For an appeal to proceed and ensure natural justice, notice must be issued to the

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**Reasoning:** The Tribunal, despite the appellant's absence, recognized the appeal's nature as one from

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**Interpretation:** The direction to issue notice to the Respondent signifies the Tribunal's

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**Application:** The Tribunal applied this principle by explicitly directing the issuance of

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## Parties

- **Judges:** Mohammad Faiz…; Naresh Sa…
- **Appellants:** Phantom Studios…
- **Respondents:** Eros International…

## Timeline

- **2026-09-30 — Order Is…**: The National Company Law Appellate Tribunal issued an order noting the absence of the…
- **2026-11-17 — Next Hearin…**: The appeal is listed for admission on this date, contingent upon the successful issuance…

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