Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)
Order Date: August 3, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard IA No.777/2026 in Company Appeal (AT) (CH) (Ins) No. 642/2025. The appeal involves Vijay R. Vakharia as the Appellant challenging actions of Ramakrishnan Sadasivan, the Resolution Professional (RP) of Lokaa Developer Pvt. Ltd., who is the Respondent. During the hearing, the proposed party identified as SRA (likely a Stakeholder or Successful Resolution Applicant) submitted that they are filing their objection in the matter. The bench consisting of Justice N Seshasayee (Member Judicial) and Jatindranath Swain (Member Technical) noted this submission and decided to adjourn the proceedings.
Final Outcome
The NCLAT adjourned the hearing and listed the matter for next hearing on August 20, 2026, to allow the proposed party SRA to formally file their objections. No substantive decision on the merits of the appeal was made in this order.
Topics: Insolvency Appeal, NCLAT Proceeding, Real Estate Company