Authority: National Company Law Appellate Tribunal, Chennai
Order Date: 29 June 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard three connected appeals related to the liquidation proceedings of Ind-Bharathi Power (Madras) Ltd. The appeals include Company Appeal (AT) (CH) (Ins) No.366/2022 filed by Ashish Arjun Kumar Rathi (Liquidator of Ind-Bharathi Power Ltd), Company Appeal (AT) (CH) (Ins) No.127/2021 filed by Power Finance Corporation Ltd & 2 Others against Ashish Arjun Kumar Rathi (RP, now Liquidator) for Ind-Bharathi Power (Madras) Ltd & 13 Others, and Company Appeal (AT) (CH) (Ins) No.193/2021 filed by Ashish Arjun Kumar Rathi (Liquidator) against Kanumuru Raghu Rama Krishna Raju & 12 Others.
Final Outcome
The Tribunal adjourned all appeals to September 3, 2026, for further hearing. The interim order previously granted in Company Appeal (AT) (CH) (Ins) No. 127/2021 shall continue to operate until the next date of hearing. The order was passed by Justice N Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical).
Topics: Corporate Insolvency, NCLAT Proceedings, Liquidation