Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: September 8, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has issued a procedural order listing two connected insolvency appeals for hearing. The first appeal (Company Appeal (AT) (CH) (Ins) No. 221/2026) is filed by Shri Dutt India Pvt Ltd against Rithesh R Mahajan in his capacity as Resolution Professional of Sovereign Industries Ltd and four other respondents. The second appeal (Company Appeal (AT) (CH) (Ins) No. 237/2026) is filed by Karnataka State Co-operative Apex Bank Ltd against Rithesh Mahajan and four other respondents. Both appeals appear to challenge aspects of the corporate insolvency resolution process involving Sovereign Industries Ltd, with Rithesh Mahajan serving as the Resolution Professional. The appeals include interim applications numbered IA Nos. 621, 622, 624/2026 and IA No. 674/2026 respectively.
Final Outcome
The NCLAT bench directed that both appeals be listed for hearing on November 17, 2026 and November 18, 2026 at 2:00 PM. This is a procedural order that only schedules the matter for future hearing without addressing the substantive merits of either appeal.
Topics: Insolvency Appeals, Corporate Resolution Process, NCLAT Proceedings