Authority: National Company Law Appellate Tribunal at Chennai
Order Date: 06.07.2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected appeals related to the corporate insolvency resolution process of Shri Maruthi Textiles Limited. Company Appeal (AT) (CH) (Ins) No. 139/2026 was filed by Sri Paidi Rakesh Reddy, who is identified as the successful bidder for the land and building assets of the company, against the liquidator of Shri Maruthi Textiles Limited, Mr. Narender Gandhari. Company Appeal (AT) (CH) (Ins) No. 141/2026 was filed by the liquidator of Shri Maruthi Textiles Limited against the same company. The tribunal noted that any interim orders previously granted in these matters would continue to be in effect.
Final Outcome
The NCLAT bench comprising Justice Sharad Kumar Sharma (Member-Judicial) and Jatindranath Swain (Member-Technical) adjourned both appeals to August 25, 2026, for admission hearing after notice. The court specifically ordered that any interim relief previously granted shall continue to operate until the next date of listing.
Topics: Insolvency Proceedings, NCLAT Order, Asset Sale