Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: October 30, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard arguments in part for Company Appeal (AT)(CH)(Ins) No. 520/2025. The appellants are Sastri Venkat Ramani, described as a Suspended Director and Shareholder of Sterling Developers Pvt Ltd, along with another appellant. The respondents are Jai Corp Ltd and two others. The appeal arises from insolvency proceedings, as indicated by the "(Ins)" designation in the case number. The tribunal heard arguments from the respondents' side but required additional time for continuation of their arguments.
Final Outcome
The NCLAT adjourned the hearing and listed the appeal for next hearing on November 17, 2026, at 2:00 PM. The tribunal specifically ordered that the existing interim order would continue to operate until the next date of listing. The legal representation included Senior Advocates Udaya Holla and Sathish Parasaran for the appellants, and Senior Advocate P.S. Raman for the first respondent (Jai Corp Ltd).
Topics: NCLAT Proceedings, Corporate Insolvency, Interim Order