Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai, comprising Justice Sharad Kumar Sharma (Member - Judicial) and Jatindranath Swain (Member - Technical)
Order Date: July 9, 2026
Case Overview
This order pertains to Company Appeal (AT) (CH) (Ins) No.520/2025, along with Interlocutory Applications IA Nos. 1463, 1464 & 1465/2025. The appellants are Sastri Venkat Ramani, identified as a Suspended Director and Shareholder of Sterling Developers Pvt Ltd, along with another appellant. The respondents are Jai Corp Ltd and two others. The matter involves an appeal under the appellate jurisdiction of NCLAT Chennai concerning insolvency proceedings. The tribunal heard advocates for both parties: Mr. Pawan Jhabakh, Mr. Jerin Asher Sojan, and Mr. Atul Madhavan representing the appellants, and Mr. Gautam S. Raman representing the first respondent (Jai Corp Ltd).
Final Outcome
The NCLAT bench ordered the appeal to be listed on August 24, 2026, under the caption 'For Admission (After Notice)'. The tribunal further directed that any interim order previously granted shall continue to operate until the next date of listing. This indicates the matter is at a preliminary stage regarding admission of the appeal, with existing protective orders remaining in effect.
Topics: Corporate Insolvency, Legal Proceedings