Authority: National Company Law Appellate Tribunal, Chennai (Justice Sharad Kumar Sharma, Member (Judicial) and Jatindranath Swain, Member (Technical))
Order Date: July 7, 2026
Case Overview
The National Company Law Appellate Tribunal at Chennai has listed Company Appeal (AT) (CH) (Ins) No. 213/2023 for further hearing. The appeal has been filed by Omkara Assets Reconstruction Pvt. Ltd. as the appellant against Mr. Butchi Venkata Ramana Murthy Vadavalli (described as the Erstwhile Director of Sri Vasavi Industries Ltd.) and three other respondents. The appeal arises from proceedings under the Insolvency and Bankruptcy Code. During the hearing held in hybrid mode on July 7, 2026, Ms. K. Varshini, Advocate (instructed by Mr. T. Ravichandran, Advocate) appeared for the appellant Omkara ARC. Mr. Naman Tandon, Advocate appeared for respondents R1 to R3.
Final Outcome
The Appellate Tribunal has directed that the appeal be listed next on September 10, 2026, under the caption 'For Admission (After Notice)'. This indicates the appeal will proceed to the admission stage after formal notice is served to the concerned parties. No substantive decision on the merits of the case was made in this order.
Topics: NCLAT Procedure, Insolvency Appeal, Hearing Schedule