Authority: National Company Law Appellate Tribunal Chennai Bench
Order Date: 12 October 2026
Case Overview
The Company Appeal (AT) (CH) (Ins) No. 184/2026 has been filed by Aakruti Nirmiti Limited (Appellant) against Baladi Shekar Shetty (Erstwhile Liquidator of the Corporate Debtor) and two other respondents. The appeal challenges the rejection of a previous appeal that was preferred under Section 42 of the Insolvency and Bankruptcy Code, 2016. Notices were issued to all respondents. Respondent No. 1 has appeared but has not yet filed a counter-affidavit. An Affidavit of Service confirms that Respondent Nos. 2 and 3 have been duly served with notices.
Final Outcome
The Tribunal has granted Respondent No. 1 a final opportunity of two weeks to file a counter affidavit. Respondent Nos. 2 and 3 may also file their counters within the same period. If they fail to do so, they will be proceeded against ex parte. The appeal has been listed for its next hearing on 6 November 2026.
Topics: NCLAT Proceeding, Insolvency Appeal, Corporate Debtor