Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai, comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical)
Order Date: 17 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard three interconnected Company Appeals filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Fortuna Buildcon (India) Pvt. Ltd.
The appellants in the lead appeals (Company Appeal (AT) (CH) (Ins) No. 163/2025 and 167/2025) are Sailesh Kumar Sriramulu, a suspended director of Fortuna Buildcon Pvt. Ltd., and another appellant. They are appealing against the respondent, Shivadutt Bannanje, the Resolution Professional (RP) of Fortuna Buildcon (India) Pvt. Ltd., and three other respondents.
A third connected appeal (Company Appeal (AT) (CH) (Ins) No. 255/2025) was filed by Fortuna Integral Projects Pvt. Ltd. against Shivadutt Bannanje (RP of Fortuna Buildcon (India) Pvt. Ltd.) and another respondent. There was no appearance for the appellant in this appeal during the hearing.
The order is purely procedural and does not contain any details of the background of the dispute, the principal allegations, or any observations or reasoning from the bench. The purpose of the hearing was to list the matters for a future date.
Final Outcome
The NCLAT bench adjourned all three appeals and listed them for the next hearing on 02 December 2026. No substantive rulings, penalties, directions, or observations were issued in this order.
Topics: Insolvency, NCLAT, Adjournment