Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 05.10.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected appeals filed by Kunaparaju Sudharshan Varma, Suspended Board of Director of Bharat Waterfront Pvt. Ltd., against IL & FS Financial Services Ltd. and other respondents. The appeals are identified as Company Appeal (AT) (CH) (Ins) No. 112/2026 (with IA Nos. 346 & 347/2026) and Company Appeal (AT) (CH) (Ins) No. 399/2023 (with IA No. 1228/2023). Both appeals arise from orders of the National Company Law Tribunal related to corporate insolvency resolution proceedings against Bharat Waterfront Pvt. Ltd. The appellant is represented by advocates Mr. Yogesh Jagia, Ms. Nitya Ahuja, and Ms. Udita Dubey. The first respondent, IL & FS Financial Services Ltd., is represented by advocate Mr. T. Vijayakumar Reddy.
Final Outcome
The NCLAT bench comprising Justice N. Seshasayee (Member-Judicial) and Jatindranath Swain (Member-Technical) adjourned both appeals and listed them for next hearing on November 19, 2026. No substantive hearing or decision on merits occurred in this order.
Topics: Corporate Insolvency, Legal Proceedings, NCLAT