Authority: National Company Law Appellate Tribunal, Chennai
Order Date: 03.11.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected appeals filed by Ayra Consortium, a Prospective Resolution Applicant, through its Authorized Representative Rohi R Katha. The appeals are numbered Company Appeal (AT) (CH) (Ins) No.471/2026 and Company Appeal (AT) (CH) (Ins) No.520/2026. The respondents in both appeals are TruPro Insolvency Services LLP (the Resolution Professional), Amar Prakaash Developers Pvt Ltd, and two others, including Assets Care & Reconstruction Enterprise Ltd as one of the members of the Committee of Creditors (CoC).
During the hearing, appearances were recorded for Mr. Bilal Ali (Advocate) for the appellant, Mr. Pawan Jhabakh with Ms. Priyanka Varma and Mr. Vishnu (Advocates) for Respondent 2, Mr. Rohit Sehgal (Resolution Professional) appearing virtually, and Mr. Atul Sharma with Ms. Renuka Iyer and Mr. Anmol Bansal (Advocates) appearing on behalf of Assets Care & Reconstruction Enterprise Ltd (CoC Member/Respondent 3).
The Tribunal specifically addressed IA No.1480/2026 in Company Appeal (AT) (CH) (Ins) No.520/2026, which was an application for condoning the delay of 7 days in filing the appeal. The Tribunal examined the reasons stated in paragraphs 2.3 and 2.4 of the supporting affidavit and found them satisfactory.
Final Outcome
The NCLAT allowed IA No.1480/2026 and condoned the 7-day delay in filing the appeal. Both appeals (Company Appeal (AT) (CH) (Ins) No.471/2026 and Company Appeal (AT) (CH) (Ins) No.520/2026) were listed for 'Admission' hearing on 04.11.2026. The appellant was directed to serve copies of the paper book to Mr. Atul Sharma, representing Assets Care & Reconstruction Enterprise Ltd.
Topics: Insolvency Appeal, Delay Condonation, NCLAT Proceedings