Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 05 October 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai issued a procedural order consolidating six interconnected company appeals related to the corporate insolvency resolution process of Splendid Metal Products Ltd, now known as Thalaivar Steels Ltd. The appeals involve multiple parties including Raj Radhe Finance Ltd (Appellant in CA 547/2026), Bank of India representing the erstwhile Committee of Creditors of Thalaivar Steels Ltd (Appellant in CAs 534, 535, 536/2026), Puissant Global Pvt Ltd (Appellant in CAs 177/2026 and 440/2026, and Respondent in other appeals), and Invent Assets Securitisation and Reconstruction Pvt Ltd (Respondent in CA 534/2026). The appeals also involve the Liquidator of Handum Industries Ltd as a respondent. The order addresses interim applications, including IA No. 1534/2026 filed for condoning a delay of 1 day in refiling of an appeal.
Final Outcome
The Tribunal condoned the 1-day delay in refiling for Company Appeal (AT) (CH) (Ins) No. 547/2026. All six appeals were consolidated and listed for further orders on October 7, 2026. The interim orders previously granted in Company Appeal (AT) (CH) (Ins) No. 177/2026 and Company Appeal (AT) (CH) (Ins) No. 440/2026 were directed to continue until the next date of hearing.
Topics: Corporate Insolvency, NCLAT Proceedings, Legal Consolidation