Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai
Order Date: 02 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai issued a procedural order in two connected appeals: Company Appeal (AT) (CH) (Ins) No. 298/2022 and Company Appeal (AT) (CH) (Ins) No. 313/2022. The appellant in both cases is Phoenix ARC Private Limited. The respondents are Balakrishnan Venkatachalam, who is identified as the Resolution Professional (RP) of Sovereign Developers & Infrastructure Ltd., and another unnamed respondent. The appeals appear to challenge certain orders or actions taken during the corporate insolvency resolution process of Sovereign Developers & Infrastructure Ltd. The matters were heard in hybrid mode with legal representation present for both parties: Mr. Suresh Dobhal and Mr. Shikhar Kumar (advocates) for the appellant, and Ms. Abitha Banu (advocate) also for the appellant; Mr. Prithvi Raj JS (advocate) represented the first respondent (the Resolution Professional).
Final Outcome
The tribunal did not make any substantive ruling on the merits of the appeals. The bench comprising Justice Sharad Kumar Sharma (Member-Judicial) and Jatindranath Swain (Member-Technical) adjourned both appeals and listed them for hearing on 09 September 2026 under the caption 'For Hearing'. The order is purely procedural and serves to schedule the next hearing date.
Topics: Insolvency Appeals, Procedural Adjournment