Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: 15 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai is hearing three consolidated Company Appeals (AT)(CH)(Ins) Nos. 360/2026, 361/2026, and 363/2026. The appellants are Nuzhat Aisha Naseer, Awaiz Ahmed, and Naseer Ahmed. The respondents are Canara Bank (R1 to R3) and Mr. Ravindra Beleyur, the Resolution Professional (R4). The appeals arise from insolvency proceedings. The appellants contend that they have shared information and cooperated with the bank, even proposing a repayment plan. Canara Bank, however, states there exists a significant gap between the amount it claims is due and the amount offered in the appellants' repayment plan.
Final Outcome
The Tribunal listed the matter for final hearing on 21 September 2026 at 12:30 PM. It issued procedural directions: the appellants are required to file pointed notes of submission and circulate a copy to the respondents in advance. The respondents are to address only the points raised by the appellants. The Tribunal also directed the Resolution Professional (the bankruptcy trustee) to file a status report. The appellants are allotted 30 minutes for oral submissions, and the respondents are allotted 20 minutes, though the Tribunal noted this time may vary. The existing interim order is to continue until the next date of listing.
Topics: Insolvency Appeal, Banking Dispute, NCLAT Proceeding