# ULTRATECH CEMENT LIMITED vs. SCHEMA ENTERPRISES PRIVATE LIMITED

> NCLT judgment dated 2026-08-06. Citation: TCN-2026-NCLT-00872. Two Interlocutory Applications (IAs) were filed before the NCLT, Mumbai Bench. IA 3415/2026 was…

- **Court:** NCLT
- **Order date:** 6 Aug 2026
- **Citation:** TCN-2026-NCLT-00872
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ultratech-cement-limited-vs-schema-enterprises-private-limited-gpuo9

## Summary

### Background

Two Interlocutory Applications (IAs) were filed before the NCLT, Mumbai Bench. IA 3415/2026 was filed by the Liquidator to record the appointment of Mr. Roshen Chordiya as the Authorised Representative (AR) for a class of creditors (homebuyers). IA 3406/2026 was filed by M/s Delighted Holdings Pvt. Ltd., a Committee of Creditors (CoC) Member, seeking the replacement of the existing Liquidator, Mr. Arun Kapoor.

## Facts

IA (I.B.C)/3415(MB)/2026 was filed by the Liquidator seeking to place on record the appointment of Mr. Roshen Chordiya as the Authorised Representative of the Class of Creditor.

The appointment of Mr. Roshen Chordiya was made under Regulation 16A(3A) to 16A(12) of CIRP Regulations read with Regulation 8(7) of the Liquidation Regulations.

Homebuyers representing 90% of the voting shares gave consent to the appointment of Mr. Roshen Chordiya as the Authorised Representative.

The Liquidator had already appointed Mr. Roshen Chordiya as the Authorised Representative of the Creditors in a class.

IA (I.B.C)/3406(MB)/2026 was filed by M/s Delighted Holdings Pvt. Ltd., a CoC Member, for the replacement of the Liquidator.

…

## Issues and analysis

### Issue 1: Whether the appointment of Mr. Roshen Chordiya as the Authorised Representative of the Class of …

**Ratio:** The NCLT takes on record the appointment of an Authorised Representative when the class

…

**Reasoning:** The document explicitly states that homebuyers representing 90% of the voting shares gave

…

**Interpretation:** The NCLT's decision to simply take the appointment on record and dispose of the

…

**Application:** IA (I.B.C)/3415(MB)/2026, filed by the Liquidator for this purpose, is disposed

…

## Parties

- **Judges:** Hariharan…; LAKSHMI G…
- **Appellants:** ULTRATECH CEMENT…; Liquidator (for…; +1 more
- **Respondents:** SCHEMA ENTERPRISES…
- **Other parties:** M/s Delighted…; Home B…; +4 more
- **Advocates:** Yahya Bata…; Uma Chatt…; +3 more

## Timeline

- **2026-07-15 — 16th CoC M…**: Resolution for replacement of Liquidator (Mr. Arun Kapoor with Ms. Kala Agarwal) was put…
- **2026-08-06 — Order Sheet of…**: NCLT heard the applications (IA 3415/2026 and IA 3406/2026) and issued the order,…

## 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/nclt-mumbai/ultratech-cement-limited-vs-schema-enterprises-private-limited-gpuo9