Authority: National Company Law Appellate Tribunal, Chennai (Justice Sharad Kumar Sharma, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: July 7, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has listed Company Appeal (AT) (CH) (Ins) No.584/2025 for final orders on August 24, 2026. The appeal was filed by S. Vasudevan, the Suspended Director of Ozone Homes Pvt Ltd, against IDBI Trusteeship Services Limited (Respondent 1) and another respondent (Respondent 2). The appeal arises from proceedings under the Insolvency and Bankruptcy Code, as indicated by the "(Ins)" designation in the case number. The order was passed in hybrid mode, indicating physical and virtual hearing options. Three Interlocutory Applications (IA Nos.1654, 1656 & 1657/2025) were also filed in connection with this appeal.
Final Outcome
The tribunal did not make any substantive ruling on the merits of the case. The bench, comprising Justice Sharad Kumar Sharma and Jatindranath Swain, simply listed the appeal for "orders" on August 24, 2026, effectively scheduling the next hearing after the summer recess. The practical consequence is that the appeal remains pending, and all parties must await the next hearing date for further proceedings.
Topics: NCLAT Proceeding, Corporate Insolvency, Director Appeal