# In the matter of Sayam Shares & Securities (P) Ltd. & Ors. vs. KSS Petron (P) Ltd. and Anr.

> NCLAT judgment dated 2025-08-06. Citation: TCN-2025-NCLAT-00458. The case involves two appeals (1001/2025 and 1014/2025) filed by the same appellant…

- **Court:** NCLAT
- **Order date:** 6 Aug 2025
- **Citation:** TCN-2025-NCLAT-00458
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/sayam-shares-securities-p-ltd-ors-vs-kss-petron-9f870555

## Summary

### Background

The case involves two appeals (1001/2025 and 1014/2025) filed by the same appellant challenging orders passed by the NCLT, New Delhi, Principal Bench. Appeal 1001 challenges orders dated 10.07.2025 related to Transfer Applications (TAs) 37(PB)/2025, 38(PB)/2025, and 39(PB)/2025. Appeal 1014 challenges an order dated 11.07.2025 passed in different IAs.

## Facts

Sayam Shares & Securities (P) Ltd. filed two appeals (1001/2025 and 1014/2025) challenging orders passed by the NCLT.

Appeal 1001/2025 challenges orders dated 10.07.2025 related to Transfer Applications (TAs) 37(PB)/2025, 38(PB)/2025, and 39(PB)/2025.

Appeal 1014/2025 challenges an order dated 11.07.2025 passed in different IAs.

KSS Petron (P) Ltd. filed TA (IBC) 37(PB)/2025.

Sayam Shares & Securities (P) Ltd. filed TA (IBC) 38(PB)/2025.

Kohinoor Crane Services filed TA (IBC) 39(PB)/2025.

The President of NCLT directed parties in TA No.37 of 2025 to file hard copies and issued directions to cure defects in TA Nos.38 and 39 of 2025.

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## Issues and analysis

### Issue 1: Whether the order passed by the President of NCLT regarding transfer applications is an …

**Ratio:** The order passed by the

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**Reasoning:** When the President decides applications listed in the Court as coram of a Bench, the

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**Interpretation:** The President, while exercising powers related to transfer applications, acts

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**Application:** The orders passed by the President are

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Sayam Shares and…
- **Respondents:** Bhubaneshwar…; KSS Petron (P)…
- **Other parties:** Dhaval…
- **Advocates:** Deepak K…; Abhijeet…; +6 more

## Timeline

- **2025-07-10 — Order Da…**: Orders passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi…
- **2025-07-11 — Order Da…**: Orders passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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