Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: September 9, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected insolvency appeals filed by Kunaparaju Sudharshan Varma, who is identified as the Suspended Board of Director of Bharat Waterfront Pvt. Ltd. The appeals are directed against IL & FS Financial Services Ltd. and other respondents. The first appeal bears Company Appeal (AT) (CH) (Ins) No. 112/2026 with two interlocutory applications (IA Nos. 346 & 347/2026). The second connected appeal is numbered Company Appeal (AT) (CH) (Ins) No. 399/2023 with one interlocutory application (IA No. 1228/2023). During the hearing, the appellant was represented by advocate Mr. Yogesh Jagia. No appearance was recorded for any of the respondents in either appeal.
Final Outcome
The bench, comprising Justice N. Seshasayee (Member-Judicial) and Jatindranath Swain (Member-Technical), adjourned the hearing of both appeals. The matters have been listed for the next hearing on October 5, 2026. No substantive orders were passed on the merits of the case, and the appeals remain pending.
Topics: Corporate Insolvency, NCLAT Proceedings