Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: November 5, 2026
Case Overview
This is a procedural order in an ongoing appeal before the National Company Law Appellate Tribunal (NCLAT) at Chennai. The appeal (Company Appeal (AT) (CH) (Ins) No. 477/2026) involves Vasudevan Sathyamoorthy, the suspended director of Ozone Projects Pvt Ltd, as the appellant. The respondents are IDBI Trusteeship Services Ltd and another party. The nature of the underlying dispute is not detailed in this specific order, but it is classified as an insolvency matter (Ins). Two interlocutory applications (IA No. 1347/2026 and IA No. 1348/2026) are also tagged with this appeal.
Final Outcome
The bench, after hearing advocates for both parties (Ms. Vandhana Prabhu R, Mr. Chandramouli Prabhakar, and Mr. Aakash Athimoolam for the appellant; Mr. Adith Nair for respondent No. 1), issued a procedural directive. The appeal is listed for the next hearing on December 8, 2026, under the caption 'For Orders'. This indicates the tribunal intends to pronounce its final order or a significant interim order on that date.
Topics: NCLAT, Insolvency Appeal, Procedural Hearing