# In the matter of Salim Salim Saiyed Suspended Director Of Aksa Paper Mills Private Limited Vs M/s S.n. Global Minerals Llp

> NCLAT judgment dated 2026-02-09. Citation: TCN-2026-NCLAT-00030. An appeal was filed against the order dated 03.02.2026 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 9 Feb 2026
- **Citation:** TCN-2026-NCLAT-00030
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/salim-salim-saiyed-suspended-director-of-aksa-paper-mills-private-limited-vs-ms-906250ea

## Summary

### Background

An appeal was filed against the order dated 03.02.2026 passed by the Adjudicating Authority (National Company Law Tribunal) Division Bench, Court-1, Ahmedabad, which admitted a Section 9 application filed by the Operational Creditor. The CIRP against the Appellant was earlier initiated by order dated 29.08.2024, which was set aside on 03.09.2024, giving liberty to the Operational Creditor to revive the Section 9 petition. Restoration Application No.33 of 2025 was filed by the Operational Creditor for reviving C.P. (IB) No.165 of 2024.

## Facts

An appeal was filed against the order dated 03.02.2026 passed by the Adjudicating Authority (National Company Law Tribunal) Division Bench, Court-1, Ahmedabad.

The Adjudicating Authority admitted a Section 9 application filed by the Operational Creditor.

CIRP against the Appellant was earlier initiated by order dated 29.08.2024, which was set aside on 03.09.2024.

Restoration Application No.33 of 2025 was filed by the Operational Creditor for reviving C.P. (IB) No.165 of 2024.

The Adjudicating Authority revived the CIRP because an amount of Rs.39,38,653/- was not paid out of the settlement amount of Rs.2,69,38,653/-.

The Appellant's counsel handed over a Bank Daft of Rs.39,38,787.77/- to the Respondent's counsel, representing the balance amount.

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was justified in reviving the CIRP based on the non-payment of a …

**Ratio:** The Adjudicating Authority revived the CIRP due to the non-payment of Rs.39,38,653/- out

…

**Reasoning:** The revival was based on the premise that the default in payment of the agreed settlement

…

**Interpretation:** The interpretation is that non-compliance with the settlement terms allows for

…

**Application:** This applies to situations where a settlement is reached, but a default occurs

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Salim Salim…
- **Respondents:** Aksa Paper Mills…; S.N. Global…
- **Advocates:** Sunil Fer…; Atul Sh…; +7 more

## Timeline

- **03.02.2026 — Order Da…**: Order passed by the Adjudicating Authority (National Company Law Tribunal) Division…
- **29.08.2024 — CIRP Init…**: CIRP against the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/salim-salim-saiyed-suspended-director-of-aksa-paper-mills-private-limited-vs-ms-906250ea