NCLAT Stays Insolvency Proceedings Against Aviation Company After It Offers To Deposit Double The Debt

The National Company Law Appellate Tribunal (NCLAT) at Delhi has recently stayed the corporate insolvency proceedings against an aviation services company after it's suspended director offered to deposit Rs 1.09 crore, double the claimed dues of Rs. 54.03 lakh (with 15% interest), which had been pending since 2019, to demonstrate its bona fide intentions.The bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, observed, “The Appellant having offered to deposit Rs. 1,09,10,000/- without prejudice to the rights and contentions of the Appellant, we are of the view that the Appellant has made ground for grant of interim relief. Let the Appellant deposit the amount during course of the day(November 10).”The NCLT Chandigarh had admitted the Corporate Insolvency Resolution Process (CIRP) under Section 9 of the Insolvency and Bankruptcy Code on 7 November 2025, dismissing claims of a pre-existing dispute as baseless, and appointed Ankur Bansal as Interim Resolution Professional. In his appeal, Gaurav Bhatia, the suspended director of the company, stated that he was ready to pay double the claimed amount to demonstrate the company's bona fide intentions. He also highlighted that the corporate debtor is financially healthy, with a reported turnover of Rs. 50 crore, and that the alleged pre-existing dispute is already pending before another forum.Subsequently, the appellate trubunal stayed the operation of the NCLT's 7 November 2025 order and listed the matter for further hearing on 10 December 2025. The creditors have been directed to file replies within two weeks, with any rejoinder to follow within a week.Case Title: Gaurav Bhatia, Suspended Director of Bird Delhi General Aviation Services Pvt. Ltd. (Formerly Known as Bird Execujet Airport Services Pvt. Ltd.) v. Martin Consulting LLC & Ors. Case Number: Comp. App. (AT) (Ins) No. 1712 of 2025 For Appellant: Senior Advocate Abhijeet Sinha, with Advocates Aseem Chaturvedi, Milind Jain, Kunal Mehta and Sidhant Kumar Click Here To Read/Download The Order

NCLAT Stays Insolvency Proceedings Against Aviation Company After It Offers To Deposit Double The Debt

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