Authority: National Company Law Appellate Tribunal, Chennai (Justice N Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 07 September 2026
Case Overview
This appeal arises from a winding-up matter originally filed before the High Court of Karnataka under the Companies Act, 1956, which was subsequently transferred to the NCLT, Bengaluru. The appellant, AM Developers (India) Pvt. Ltd., challenged the order passed by the NCLT Bengaluru under Section 433(e) of the Companies Act, 1956 dated 09 September 2025. The core legal issue raised is that Section 433(e) of the Companies Act, 1956 has been repealed and lacks a parallel provision in the current Companies Act, 2013.
Final Outcome
The NCLAT granted an interim stay of the impugned winding-up order passed by NCLT Bengaluru. The appellant was directed to serve notice to the respondent, Sri Balaji Real Estate, through all modes including substituted service, as the initial notice was returned unserved. The appeal has been listed for further hearing on 28 October 2026.
Topics: Legal Proceedings, Corporate Insolvency