Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 25 August 2026
Case Overview
This order addresses multiple connected appeals (Company Appeal (AT) (CH) Nos. 129/2025, 130/2025, 131/2025, and 132/2025) involving appellants Jaber Abdul Wahab & 2 Others, TP Anilkumar & 3 Others, Indus Motor Company Private Limited & Another, and Ajmal Abdul Wahab & Another against respondents TP Anilkumar & 3 Others. The proceedings concern a dispute where the NCLAT had previously directed the appellant to repay a sum of ₹29.63 crores to M/s. Indus Motor Company Private Limited, with the requirement of a bank guarantee.
The current matter specifically deals with IA No. 811/2026 in Company Appeal (AT) (CH) No. 130/2025, where the appellant has applied to substitute the cash amount of ₹29.63 crores (which they had already deposited with the company pursuant to the impugned order) with an alternative arrangement. The respondents have registered strong objections to this substitution application.
The Tribunal also took note of an order from the Supreme Court of India in CA No. 4420/2020 dated 20 April 2026, where the Supreme Court declined to examine the merits of an interim order passed by this NCLAT bench, citing that the main appeal itself was scheduled for final hearing on 08 June 2026.
Final Outcome
The Tribunal directed that pleadings in IA No. 811/2026 must be completed by 15 September 2026. The matter is listed for next hearing on 15 September 2026 to fix a specific schedule for this application. By consent of both parties, the final hearing of the appeals has been scheduled for the afternoons of 26 October 2026 to 30 October 2026. The interim order dated 09 March 2026 will remain in operation until the next date of listing.
Topics: Corporate Legal Dispute, Debt Repayment, Tribunal Proceedings