Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 08 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard three connected Company Appeals: AT (CH) (Ins) No. 360/2026 (filed by Nuzhat Aisha Naseer), No. 361/2026 (filed by Awaiz Ahmed), and No. 363/2026 (filed by Naseer Ahmed). All appeals are against the same respondents: Canara Bank (Respondent 1), two other unnamed respondents (R2 & R3), and Mr. Ravindra Beleyur in his capacity as Resolution Professional (Respondent 4).
During the hearing, the appellants' counsel, Mr. Aravind Reddy H, sought more time due to the senior counsel's personal inconvenience. The respondents' counsel (Mr. Pranava Charan for R1-R3) and the bankruptcy trustee (Mr. Ravindra Beeryur for R4) opposed this request, arguing that pursuant to the Tribunal's earlier direction, Mr. Naseer Ahmed had circulated some information that was "bereft of any material particulars." The Tribunal examined this information and found merit in the respondents' grievance about its insufficiency.
Final Outcome
The Tribunal granted the appellants additional time but issued specific directives: (1) All appellants must appear physically before the Tribunal on 15 September 2026 at 12:45 PM, and (2) They must file an affidavit disclosing all their assets along with approximate valuations. The interim order currently in place will continue until the next hearing date. The appeals are listed for next hearing on 15.09.2026.
Topics: Insolvency Appeal, Asset Disclosure, Banking Dispute