Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 05 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai issued a procedural order consolidating six interlinked Company Appeals related to the corporate insolvency resolution process of Thalaivar Steels Ltd (formerly known as Splendid Metal Products Ltd). The appeals involve multiple parties, including the financial creditor Bank of India (representing the erstwhile Committee of Creditors), the successful resolution applicant Puissant Global Pvt Ltd, and other stakeholders like Raj Radhe Finance Ltd and Invent Assets Securitisation and Reconstruction Pvt Ltd. One appeal (Company Appeal (AT) (CH) (Ins) No. 177/2026) also involves the Liquidator of Handum Industries Ltd. The nature of the proceedings appears to be challenges or disputes arising from the corporate insolvency resolution process of the corporate debtor, Thalaivar Steels Ltd.
Final Outcome
The Tribunal passed the following directions:
1. All six appeals (Nos. 547/2026, 534/2026, 535/2026, 536/2026, 177/2026, and 440/2026) are consolidated.
2. In Company Appeal (AT) (CH) (Ins) No. 547/2026, the delay of 1 day in refiling the appeal (as sought in IA No. 1534/2026) was condoned.
3. The consolidated appeals are listed for further hearing on 07 October 2026 under the caption 'For Orders'.
4. Until the next date of hearing, the interim orders previously granted in Company Appeal (AT) (CH) (Ins) No. 177/2026 and Company Appeal (AT) (CH) (Ins) No. 440/2026 shall continue to remain in force, effectively maintaining the status quo.
The practical consequence is a stay of further proceedings in the underlying matters until the next hearing date, pending the NCLAT's final orders on the consolidated appeals.
Topics: Corporate Insolvency, Litigation, NCLAT