Authority: National Company Law Appellate Tribunal, Chennai Bench (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 03 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard Company Appeal (AT) (CH) (Ins) No.389/2026 filed by Supreme Plascare India Pvt. Ltd. (Appellant) against Shiroo Polymers Pvt. Ltd. (Respondent). The appeal challenges the dismissal of a petition under Section 7 of the Insolvency and Bankruptcy Code by the Adjudicating Authority. Both parties were represented by advocates - Mr. Rohan Rajasekaran for the Appellant and Mr. Athiban Vijay for the Respondent.
The Tribunal examined the scope of the appeal and the facts presented by the appellant, including the legal aspects on which the Adjudicating Authority based its dismissal of the Section 7 petition. The bench determined that granting 15 minutes to each party would be sufficient to explain their respective cases regarding both factual and legal arguments.
Final Outcome
The matter has been listed for the next hearing on 28 September 2026. Both parties are required to submit their pointed notes of submission before the scheduled hearing date. The Tribunal will hear final arguments from both sides during the next hearing session.
Topics: Insolvency Appeal, NCLAT Proceeding, Section 7 Petition