Authority: National Company Law Tribunal, Bengaluru Bench
Order Date: 09.10.2026
Case Overview
The matter involves a contempt application (CA 52/2023) and connected applications within the main company petition CP No. 10/BB/2022 filed under Sections 241-242 of the Companies Act, 2013. The petitioners are Mr. P Obul Reddy and four others, while the respondents are M/s Rayen Steels Pvt Ltd and thirty others. The bench comprised Hon'ble Member (Judicial) Shri. Sunil Kumar Aggarwal and Hon'ble Member (Technical) Shri. Radhakrishna Sreepada. Multiple counsels represented various parties: Anant Merathia for Applicant No. 1 in CA 52/2023; C.K. Nandakumar (Senior Counsel) for Applicants 2-8 in CA 52/2023; Mr. S. Ravi (Sr. Counsel) for Mr. A. M. Sridharan representing Respondents 1-5 in CA 52/2023 and for Petitioners in CP/10/BB/2022; Anant Merathia also for Respondents 1 & 24-30 in CP/10/BB/2022; N P Vijaykumar for Respondents 2-4, 10-18 & 21-23 in CP/10/BB/2022; and Chandramouli Prabhakar for Respondents 6, 7, 9, 19 and 20 in CP/10/BB/2022.
Final Outcome
The Tribunal heard brief refresh arguments from the Senior Counsel for the applicants and approximately 90 minutes of arguments from the Senior Counsel for the respondents (company petitioners). The matter has been adjourned to November 4, 2026, for remaining arguments on the application. The interim order previously issued in this matter will continue to remain in effect until the next hearing.
Topics: NCLT Proceedings, Company Law Dispute, Contempt Application