Authority: National Company Law Appellate Tribunal (NCLAT) at Chennai, comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical)
Order Date: 18 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has issued a procedural order in two interconnected Company Appeals related to the insolvency process of Shri Maruthi Textiles Limited. The first appeal (Company Appeal (AT) (CH) (Ins) No. 139/2026) has been filed by Sri Paidi Rakesh Reddy, identified as the Successful Bidder for the Land & Building of the company, along with another appellant, against the Respondent, Shri Maruthi Textiles Limited, represented by its Liquidator, Mr. Narender Gandhari. The second appeal (Company Appeal (AT) (CH) (Ins) No. 141/2026) has been filed by the Liquidator of Shri Maruthi Textiles Limited against the company itself. The nature of the specific disputes in these appeals is not detailed in this procedural order.
Final Outcome
The Tribunal has listed both appeals for their next hearing on 30 November 2026. It further directed that any interim order which had been granted earlier in these matters shall continue to remain in operation until this next date of listing. The order is a procedural adjournment and does not constitute a final decision on the merits of the appeals.
Topics: Insolvency Litigation, NCLAT Proceedings