Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: 15 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has reserved its judgment in Company Appeal (AT) (CH) (Ins) No.299/2026. The appeal was filed by Challakonda Shobha Raghuram, identified as a Director (Suspended Powers) of Visakha Prime Properties Constructions Limited, against multiple respondents including ASREC (India) Limited (represented by its Chief Manager) and the Resolution Professional of the company. The proceedings were conducted in hybrid mode with legal representation from both sides: Mr. Bendi Raviteja, Advocate for the Appellant, and Mr. Srinivas Gowd, Advocate for Respondent 1 (ASREC India), and Mr. Ganesh Venkata Siva Rama Krishna Remani (the Resolution Professional/Respondent 2).
Final Outcome
The bench comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical) reserved judgment after hearing arguments from all parties. The tribunal will issue its ruling at a future date, which will determine the outcome of the appeal challenging whatever order or decision was previously made regarding Visakha Prime Properties Constructions Limited and ASREC (India) Limited.
Topics: Corporate Insolvency, NCLAT Appeal, Director Rights