The National Company Law Appellate Tribunal (NCLAT) at Delhi has upheld insolvency proceedings against four companies linked to Rana Kapoor. It held that they acted as corporate guarantors for a ₹105 crore loan taken by Bliss House Pvt. Ltd. (BHPL), despite executing deeds of hypothecation rather than documents titled as guarantee deeds.
The Bench of Officiating Chairperson Justice Yogesh Khanna and Technical Members Barun Mitra and Ajai Das Mehrotra dismissed appeals filed by Bindu Kapoor, suspended director of the four companies.
The appeals challenged a common order passed by the Delhi bench of the National Company Law Tribunal (NCLT) on April 7, 2026. The NCLT had admitted insolvency petitions filed by J.C. Flowers Asset…