# In the matter of Vir Jai Khosla vs. Nemo,

> NCLAT judgment dated 2025-07-14. Citation: TCN-2025-NCLAT-00309. The case involves a Company Appeal against orders of the Adjudicating Authority related to IA…

- **Court:** NCLAT
- **Order date:** 14 Jul 2025
- **Citation:** TCN-2025-NCLAT-00309
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vir-jai-khosla-vs-nemo-11fa1636

## Summary

### Background

The case involves a Company Appeal against orders of the Adjudicating Authority related to IA No. 832 of 2022 and IA No. 283 of 2023 in C.P.(IB) No. 40 of 2017. The applicant sought video recording of the proceedings.

## Facts

The resolution plan of Arcelor Mittal India Pvt. Ltd. (AMIPL) for Essar Steel India Ltd. (ESIL) was approved by the Adjudicating Authority on 08.03.2019 and affirmed by the Tribunal on 04.07.2019, and upheld by the Supreme Court on 15.11.2019.

IA No. 832 of 2022 was filed by M/s Srei Multiple Asset Investment Trust (SMAIT) against several Respondents seeking proceedings under IPC and CrPC provisions, which was rejected by the Adjudicating Authority on 21.02.2023.

A recall application, IA No. 283 of 2022, was filed by SREI Infrastructure Finance Ltd. (SIFL) and Mr. Vir Jai Khosla as a shareholder in SIFL, seeking recall of the order dated 21.02.2023, but was rejected on 17.03.2023.

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## Issues and analysis

### Issue 1: Whether the Tribunal should allow video recording of …

**Ratio:** Recording of proceedings is not ordinarily resorted to and requires permission from the

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**Reasoning:** The Tribunal considered the administrative order and precedents regarding video recording

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**Interpretation:** The Tribunal interpreted the administrative order to mean that video recording

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**Application:** The Tribunal applied the interpretation to the facts of the case, finding no

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Vir Jai K…
- **Respondents:** Essar Steel India…; Odisha Slurry…; +1 more
- **Other parties:** Committee of…; Standard Chartered…; +2 more
- **Advocates:** Deepak K…; Abhishek Manu…; +9 more

## Timeline

- **2019-03-08 — Approval of Resolution…**: The Adjudicating Authority approved the resolution plan of Arcelor Mittal India Pvt. Ltd.…
- **2019-07-04 — Affirmation by…**: The Tribunal affirmed the Adjudicating…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 195 — Power to designate financial sector regulator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-195)

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