Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 29 September 2026
This order pertains to three connected Company Appeals filed under the Appellate Jurisdiction of the NCLAT Chennai:
1. Company Appeal (AT) (CH) (Ins) No. 41/2026: Filed by IDBI Bank Ltd. as the Appellant against Thyagarajan Arunkumar (Erstwhile Managing Director of Aegan Industries Pvt. Ltd.) and 7 Other Respondents.
2. Company Appeal (AT) (CH) (Ins) No. 01/2026 (IA No. 01/2026): Filed by State Bank of India as the Appellant against Thyagarajan Arunkumar (Erstwhile Managing Director of Aegan Batteries Pvt. Ltd.) and 9 Other Respondents.
3. Company Appeal (AT) (CH) (Ins) No. 02/2026 (IA No. 03/2026): Filed by State Bank of India as the Appellant against Thyagarajan Arunkumar (Erstwhile Managing Director of Aegan Batteries Pvt. Ltd.) and 7 Other Respondents.
Legal representation was noted for the hearings. Mr. T. Ravichandran, Advocate, appeared for IDBI Bank Ltd. Mr. K. Chandrasekaran, Advocate, appeared for the State Bank of India. Mr. Shivaji H Mane and Ms. Divyashree R, Advocates, appeared for the various groups of Respondents, including Thyagarajan Arunkumar.
The Tribunal did not conduct a substantive hearing on the merits of the appeals. The sole purpose of this order was to list, or adjourn, all three appeals for a future date. The bench directed that these appeals be listed next on 11 December 2026.
Final Outcome
The appeals filed by IDBI Bank Ltd. and State Bank of India against Thyagarajan Arunkumar and others concerning Aegan Industries Pvt. Ltd. and Aegan Batteries Pvt. Ltd. have been adjourned. The next date of hearing is scheduled for 11 December 2026. No rulings on the substance of the appeals were made in this order.
Topics: NCLAT, Banking Insolvency, Legal Adjournment