Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai, Bench comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical)
Order Date: 29 September 2026
Case Overview
This order pertains to two linked Company Appeals filed under the appellate jurisdiction of the NCLAT: Company Appeal (AT) (CH) (Ins) No. 262/2026 and Company Appeal (AT) (CH) (Ins) No. 263/2026. The appellants are Mr. Debashis Bose and Ms. Pragya Jhunjhunwala, respectively. The sole respondent in both appeals is State Bank of India (R1), with the Resolution Professional (Ms. MS Mano Ranjani) named as the second respondent (R2). The nature of the proceedings is an insolvency appeal, indicating the appellants are challenging an order or action related to a corporate insolvency resolution process where State Bank of India is the financial creditor. The hearing was conducted in hybrid mode. The tribunal noted that the arguments presented by the counsel for the appellants, led by Mr. Krishnendu Datta, had been concluded.
Final Outcome
The tribunal adjourned the hearing and scheduled the next session for 2:00 PM on 07 October 2026 to hear the arguments of the respondents (State Bank of India and the Resolution Professional). The matters are to be listed as scheduled. Several Interlocutory Applications (IAs) are also pending with these appeals: IA Nos. 737, 738 & 740/2026 in Appeal No. 262/2026 and IA Nos. 1145, 742, 743 & 744/2026 in Appeal No. 263/2026.
Topics: Insolvency, Banking Litigation