Authority: National Company Law Appellate Tribunal, Chennai Bench (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 related to insolvency proceedings involving Fortuna Buildcon entities. The appeals were filed by:
1. Sailesh Kumar Sriramulu, Suspended Director of Fortuna Buildcon Pvt. Ltd. & Another (Appeal No. 163/2025 and 167/2025)
2. Fortuna Integral Projects Pvt. Ltd. (Appeal No. 255/2025)
against
Shivadutt Bannanje (Resolution Professional of Fortuna Buildcon (India) Pvt. Ltd.) and other respondents.
The appeals challenge decisions or actions taken by the Resolution Professional in the corporate insolvency resolution process of Fortuna Buildcon (India) Pvt. Ltd. The matters involve suspended directors and related corporate entities contesting aspects of the insolvency proceedings.
Final Outcome
The NCLAT bench adjourned all three appeals and listed them for hearing on December 2, 2026. No substantive hearings or arguments took place on the current date. The order merely records the appearance of advocates for the parties and sets the future date for proceedings.
- Topics: Insolvency Appeals, Corporate Litigation, NCLAT Proceedings