NCLAT Adjourns Insolvency Appeal to 16 November 2026; Suspension Order Extended

The NCLAT heard BGR Energy's appeal on 28th September 2026.

Tue 29 Sep 2026

NCLAT Hearing Date

28th September 2026

Next Adjournment Date

16th November 2026

Settlement Proposal

Settlement proposal with NARCL noted by Tribunal

Suspension Order Status

Earlier suspension order extended and remains in force until next hearing

What was shared

BGR Energy Systems has updated the exchanges on its insolvency proceedings. The appeal before the National Company Law Appellate Tribunal (NCLAT) came up for hearing on 28th September 2026.

What the Tribunal did

• The Tribunal took note of recent developments on arriving at a settlement proposal with NARCL (National Asset Reconstruction Company Limited).
• The matter was adjourned to 16th November 2026.
• The suspension order earlier granted by the NCLAT has been extended and shall continue to remain in force until the next date of hearing.

Background

The appeal relates to the suspension of the NCLT order in CP (IB)/58/7/AMR/2024, through Company Appeal (AT) (CH) (Ins) No. 252/2026 along with connected applications. The suspension means the effect of the insolvency admission order continues to be held back while the appeal is pending.

Next step

The company states it is yet to receive a copy of the order and will intimate the stock exchanges upon receipt.

How investors may read this

The corporate insolvency matter remains unresolved and now moves to the November hearing. The mention of a settlement proposal with NARCL and the continued suspension of the order are the two developments shareholders will be tracking, with the outcome depending on what the Tribunal decides at the next hearing.

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