Introduction
The sanctity of timelines in corporate insolvency proceedings has once again been affirmed by the National Company Law Appellate Tribunal in a ruling that highlights the mandatory nature of procedural compliance under the Insolvency and Bankruptcy Code, 2016. In Ram Prasad Agarwala v. Bijay Murmuria (Resolution Professional) and Others, decided on 29th April 2026, the Appellate Tribunal set aside an order of the National Company Law Tribunal that had condoned delay in submission of Expression of Interest by a prospective resolution applicant.
The judgment was delivered by the Principal Bench at New Delhi, comprising Mr. Justice Ashok Bhushan as Chairperson and Mr. Indevar Pandey as Technical Member. It is reported as (2026)…