Authority: National Company Law Appellate Tribunal, Chennai (Justice Sharad Kumar Sharma, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: July 6, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected insolvency appeals filed against Pridhvi Asset Reconstruction & Securitisation Company. Company Appeal (AT) (CH) (Ins) No. 83/2026 was filed by appellant Virigneni Anjaiah, while Company Appeal (AT) (CH) (Ins) No. 84/2026 was filed by appellant Suneetha Kadiyala. Both appeals named Pridhvi Asset Reconstruction & Securitisation Company as the first respondent along with two other respondents. During the hearing conducted in hybrid mode, there was no appearance from either appellant. The respondents were represented by counsel - Mr. Tulesh, Advocate for Respondent 1 (Pridhvi ARC) and Mr. M. Rama Rao, Advocate for Respondents 2 and 3.
Final Outcome
The Tribunal adjourned both appeals to September 10, 2026, listing them under the caption 'For Admission (After Notice)'. The bench specifically ordered that any interim order previously granted in these matters shall continue to operate until the next date of listing. This procedural order maintains the status quo until the substantive hearing for admission of the appeals.
Topics: NCLAT Proceedings, Insolvency Appeals, Asset Reconstruction