Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 24 June 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai issued a procedural order addressing two separate company appeals related to the insolvency resolution process of Lokaa Developer Pvt. Ltd., with Mr. Ramakrishnan Sadasivan serving as the Resolution Professional.
The Tribunal clarified that although Company Appeal (AT) (CH) (Ins) No. 661/2025 (filed by Krishna Venkata Rao & Anr.) and Company Appeal (AT) (CH) (Ins) No. 642/2025 (filed by Vijay R Vakharia) are listed together, they should not be treated as connected cases as they involve independent issues. Both appeals are against the Resolution Professional of Lokaa Developer Pvt. Ltd.
In Appeal No. 661/2025, the application IA No. 1843/2025 seeking dispensation of filing a certified copy of the impugned order was deemed closed since the certified copy had already been supplied. Pleadings have been exchanged between the parties in this appeal.
In Appeal No. 642/2025, the appellant has filed an impleadment application (IA No. 777/2026) seeking to implead the Successful Resolution Applicant. The respondent's counsel indicated they would object to this impleadment.
Final Outcome
The Tribunal directed that Appeal No. 661/2025 be listed for admission on 13 July 2026. For Appeal No. 642/2025, the respondent was given 10 days from the order date to file objections to the impleadment application, and the appeal was listed for order on 13 July 2026. The order copy is to be placed on both company appeal records.
The bench comprised Justice Sharad Kumar Sharma (Member-Judicial) and Jatindranath Swain (Member-Technical).
Topics: Insolvency Proceedings, NCLAT Procedure, Real Estate