Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: October 6, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two interconnected Company Appeals filed under the Insolvency and Bankruptcy Code. The first appeal, Company Appeal (AT) (CH) (Ins) No. 272/2026, was filed by IFCI Factors Ltd against Empee Holdings and four other respondents. The second appeal, Company Appeal (AT) (CH) (Ins) No. 549/2026, was filed by SNJ Distilleries Pvt Ltd and another appellant against IFCI Factors Ltd and two other respondents. The matters were heard in hybrid mode with legal representation from all parties.
The Tribunal considered two Interlocutory Applications (IAs) filed in connection with Appeal No. 549/2026. IA No. 1540/2026 sought condonation of delay in refiling, for which the Tribunal found the reasons stated in paragraphs 3(b) and 3(c) of the application to be satisfactory. IA No. 1539/2026 sought condonation of a 6-day delay in filing the appeal, for which the Tribunal found the reasons stated in paragraphs 2(c) and 2(d) of the application to be satisfactory.
Final Outcome
The Tribunal allowed both IA No. 1540/2026 and IA No. 1539/2026, thereby condoning the delays in filing and refiling. The Tribunal directed that Company Appeal (AT) (CH) (Ins) No. 549/2026 be connected with Company Appeal (AT) (CH) (Ins) No. 272/2026 for hearing. Both matters were listed for next hearing on November 23, 2026, at 12:00 PM. The Tribunal ordered that all existing interim orders, if any, shall continue to remain in force until the next date of hearing.
Topics: Insolvency Appeals, Delay Condonation, NCLAT Proceedings