Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: September 16, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has adjourned hearing in two interconnected appeals involving PTC India Limited and State Bank of India. The appeals are numbered Company Appeal (AT) (CH) (Ins) No.305/2025 (with IA No. 898/2025) and Company Appeal (AT) (CH) (Ins) No.307/2025.
In the first appeal (No.305/2025), PTC India Limited is the appellant challenging Mr. Ravi Shankar Devarakonda, the Resolution Professional of Meenakshi Energy Limited. In the second appeal (No.307/2025), State Bank of India (SAMB-II) is the appellant against PTC India Limited as respondent. The matters relate to the corporate insolvency resolution process of Meenakshi Energy Limited.
Representation for PTC India Limited was handled by Advocate Ms. Lakshmi Menon, while the respondents/other appellants were represented by Advocates Ms. Surabhi Khattar and Mr. Shivansh Vishwakarma.
Final Outcome
The NCLAT bench directed that both appeals be listed for hearing on December 7, 2026, under the caption 'For Hearing'. The order represents a procedural adjournment without substantive determination of the merits of either appeal at this stage.
Topics: NCLAT Proceedings, Corporate Insolvency, Power Sector