Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 12 June 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two separate Interlocutory Applications (IAs) seeking condonation of delay in filing appeals against orders related to the corporate insolvency resolution process of Sovereign Industries Ltd.
- IA No. 623/2026 was filed by Shri Dutt India Pvt Ltd (Appellant) against Rithesh R Mahajan, the Resolution Professional (RP) of Sovereign Industries Ltd, and four other respondents. The appellant sought condonation of a 14-day delay in filing its main appeal, Company Appeal (AT) (CH) (Ins) No. 221/2026.
- IA No. 673/2026 was filed by Karnataka State Co-operative Apex Bank Ltd (Appellant) against Rithesh Mahajan and four other respondents. This appellant sought condonation of a 13-day delay in filing its main appeal, Company Appeal (AT) (CH) (Ins) No. 237/2026.
- Senior Advocates and counsel represented the parties. For the respondents in both applications, the legal representatives stated they had no objection to the delays being condoned.
Final Outcome
The tribunal allowed both applications, condoning the delays of 14 days and 13 days respectively. Consequently, both appeals were admitted. Counsel for all parties agreed to file a joint convenience compilation on or before the next date of hearing. The appeals were directed to be listed for hearing on 9 July 2026 along with three other connected company appeals: Comp. App. (AT) (CH) (Ins) No.120/2026, Comp. App. (AT) (CH) (Ins) No. 126/2026 & Comp. App. (AT) (CH) (Ins) No. 140/2026.
Topics: Insolvency Appeal, Procedural Delay, NCLAT