Authority: National Company Law Appellate Tribunal, Chennai Bench
Order Date: July 9, 2026
Case Overview
The National Company Law Appellate Tribunal at Chennai has listed four interconnected company appeals related to the insolvency proceedings of Sovereign Industries Ltd for admission hearing. The appeals involve multiple parties including the corporate debtor Sovereign Industries Ltd, its Resolution Professional Ritesh R Mahajan, and various creditors and respondents.
The appeals are numbered as Company Appeal (AT) (CH) (Ins) No. 120/2026 (with IA Nos. 376 & 378/2026), Company Appeal (AT) (CH) (Ins) No. 126/2026 (with IA Nos. 387 & 388/2026), Company Appeal (AT) (CH) (Ins) No. 140/2026 (with IA No. 422/2026), and Company Appeal (AT) (CH) (Ins) No. 135/2026 (with IA Nos. 409 & 410/2026).
The parties involved include Shri Dutt India Pvt. Ltd. (as appellant in one appeal and respondent in another), Ritesh R Mahajan as Resolution Professional of Sovereign Industries Ltd (as both appellant and respondent in different appeals), Karnataka State Cooperative Apex Bank Ltd (as appellant), and The Ugar Sugar Works Ltd (as respondent).
Legal representation includes Ms. Priyanka Varma for Shri Dutt India Pvt. Ltd., Mr. Rohit Gupta, Mr. Akhil Bhansali, Ms. Prashansa and Mr. Aditya for the Resolution Professional, Ms. R. Moneshaa for various respondents, and Mr. AS Vishwajith for Karnataka State Cooperative Apex Bank Ltd.
The tribunal bench comprised Justice Sharad Kumar Sharma (Member Judicial) and Jatindranath Swain (Member Technical). The proceedings were conducted in hybrid mode.
Final Outcome
The NCLAT directed that all four appeals be listed on September 8, 2026, under the caption 'For Admission (After Notice)'. This is a procedural order scheduling the matters for further hearing without making any substantive determinations on the merits of the appeals.
Topics: Insolvency Appeals, Corporate Debtor, NCLAT Proceedings