Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)
Order Date: 29 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard two linked interlocutory applications (IA No.1158/2026 and IA No.1159/2026) within two main Company Appeals. The appeals are Company Appeal (AT) (CH) (Ins) No.26/2026 and Company Appeal (AT) (CH) (Ins) No.27/2026. The appellants in the respective cases are M. Shanmugam and S. Chandra. The sole respondent common to both appeals is Tamilnad Mercantile Bank Limited, with another respondent (Anr.) also involved. The nature of the proceedings is an insolvency appeal. The order was passed in a hybrid mode hearing. Advocates represented the parties: Ms. Raveena Paniker for the Appellants, Mr. AG Sathyanarayana for Respondent 1 (Tamilnad Mercantile Bank Limited), and Ms. Pavithra Dayalan for Respondent 2.
Final Outcome
The tribunal did not decide the merits of the case but issued a procedural order. It listed both appeals for the next hearing on 5th November 2026. Crucially, the bench ordered that any interim order already passed in the matter will continue to remain in force until the next date of listing. This maintains the status quo and provides continued interim relief to the party that had previously obtained it.
Topics: NCLAT, Insolvency Appeal, Banking Dispute