Authority: Supreme Court of India
Order Date: 19-06-2026
Case Overview
- Parties: Liquidator of IVRCL Limited (under liquidation) represented by Mr. Purusottam Behera & Anr. (Appellant) vs Imperial Coastal Infra (formerly M/s Coastal Engineering Constructions) & Others (Respondent).
- Civil Appeal No. 8454/2026 and IA No. 178783/2026 (ex‑parte stay) were listed for hearing on 19‑06‑2026 before a partial bench of Hon’ble Justices Ujjal Bhuyan and Arun Palli.
- The dispute centres on a security deposit of Rs 27,47,761 noted in Paragraph 17 of the impugned judgment, which the liquidator claims to have received and is to be released to the appellant.
Court Observations & Directions
- The Court recorded the submission of the respondent‑caveator regarding the security deposit.
- Senior Counsel for the appellant confirmed that the appellant will release the amount of Rs 27,47,761 within four weeks from the date of the order.
- The Court directed that, subject to the release of the aforesaid amount within the stipulated period, an interim stay be granted on the impugned judgment dated 27‑04‑2026 passed by the National Company Law Appellate Tribunal (NCLAT), Chennai, in Company Appeal (AT) (CH) (Ins) No. 250/2024.
- Notice issued, returnable on 04‑08‑2026.
- The order was digitally signed by Court Master (SH) Abhinav Kumar and Court Master (NSH) Sapna Bansal on 22‑06‑2026.
Final Outcome
- Interim stay of the NCLAT judgment dated 27‑04‑2026 is effective, conditional upon the appellant releasing Rs 27,47,761 within four weeks; failure to do so may lift the stay.
Topics: Insolvency, Court Order