Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 17th September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has listed two interconnected Company Appeals for further hearing on 2nd December 2026. The appeals, numbered Company Appeal (AT) (CH) (Ins) No.182/2021 and Company Appeal (AT) (CH) (Ins) No.183/2021, were filed by Prakash Balasundaram and 9 other appellants. The appellants are challenging aspects of the corporate insolvency resolution process of Fortuna Urbanscape. The respondents in these appeals include the Resolution Professional, Shivadutt Bananje, and Fortuna Urbanscape itself, along with numerous other parties (2 respondents in one appeal and 37 in the other). The nature of the specific grievances or the stage of the underlying Corporate Insolvency Resolution Process (CIRP) is not detailed in this procedural order.
Final Outcome
The bench, comprising Justice N. Seshasayee and Mr. Jatindranath Swain, has adjourned the hearing of both appeals. The next date of hearing is scheduled for 2nd December 2026. No substantive decisions on the merits of the appeals were made in this order, which serves purely as a scheduling update.
Topics: Insolvency Proceedings, Real Estate, NCLAT