Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 04 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two connected appeals filed by Prashanth Boorugu (Company Appeal (AT) (CH) (Ins) No.374/2026) and Sarita Boorugu (Company Appeal (AT) (CH) (Ins) No.375/2026) against State Bank of India and another respondent. The appeals were accompanied by Interlocutory Applications IA Nos.1069 & 1070/2026 (for Appeal No.374/2026) and IA Nos.1071 & 1072/2026 (for Appeal No.375/2026). The Tribunal specifically considered the affidavits supporting IA Nos.1070 & 1072/2026, which sought condonation of delay in filing the appeals. The Tribunal found the reasons stated in paragraphs 8 and 9 of these affidavits satisfactory.
Final Outcome
The NCLAT condoned the delay in filing both appeals by allowing IA Nos.1070 & 1072/2026. The appellants' counsel requested time to file additional records, which was granted. Both appeals (Company Appeal (AT) (CH) (Ins) No.374/2026 and Company Appeal (AT) (CH) (Ins) No.375/2026) were admitted and listed for next hearing on 14 August 2026.
Topics: NCLAT Proceedings, Banking Litigation, Appellate Delay Condonation