Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)
Order Date: 06 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has issued a procedural order in Company Appeal (AT) (CH) (Ins) No. 632/2025. The appeal has been filed by LIC Housing Finance Ltd. against three respondents: (1) Ramakrishnan Sadasivan, described as the Erstwhile Resolution Professional, (2) Lokaa Developers Pvt Ltd, and (3) two other unnamed parties. The appeal originates from insolvency proceedings, specifically involving the corporate insolvency resolution process of Lokaa Developers Pvt Ltd. The matter was heard in hybrid mode by a bench comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical).
Final Outcome
The NCLAT has adjourned the hearing of the appeal and scheduled it for the next listing on 25 September 2026. The order specifically states that the matter is to be listed under the caption 'For Hearing' on that date. Crucially, the tribunal has ordered that the existing interim order, the specifics of which are not detailed in this excerpt, will continue to operate until the next date of listing. This continuation of the interim order maintains the status quo or any protective measures that were previously put in place until the appeal is heard on its merits.
Topics: Insolvency Appeal, Corporate Litigation