NCLAT Reserves Judgment in Vantage Spinners Director Appeal

Authority: National Company Law Appellate Tribunal, Chennai Bench

Order Date: 17 September 2026

Case Overview

The National Company Law Appellate Tribunal (NCLAT) at Chennai heard an appeal filed by Nandamuri Meenalatha, the erstwhile director of Vantage Spinners Private Limited, against The Cotton Corporation of India Limited and another respondent. The appeal challenges proceedings under the Insolvency and Bankruptcy Code, specifically identified as Company Appeal (AT) (CH) (Ins) No.129/2022 with connected interlocutory applications IA Nos.307 & 308/2022 and 1296/2026.

The appellant was represented by Mr. Sankaranarayanan, Senior Advocate, assisted by Mr. Avinash Krishnan Ravi, Advocate. The first respondent (The Cotton Corporation of India Ltd.) was represented by Mr. Anirudh Krishnan, Advocate. The bench comprised Justice N. Seshasayee (Member-Judicial) and Jatindranath Swain (Member-Technical).

Final Outcome

The NCLAT reserved judgment after hearing both parties. The tribunal directed both sides to submit their pointed notes of submissions for consideration before the final order is pronounced. The matter remains pending until the final judgment is delivered.

Topics: Insolvency Appeal, Director Liability, Corporate Debtor