Authority: National Company Law Appellate Tribunal, Chennai
Order Date: 28 September 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has listed an appeal filed by Sathyamoorthy Sai Prasad, the suspended director of Positive Housing Pvt Ltd, against Asset Reconstruction Company (India) Ltd (ARCIL) and another respondent. The appeal is registered as Company Appeal (AT) (CH) (Ins) No. 201 of 2026, with connected interlocutory applications numbered IA Nos. 575, 576, and 577 of 2026. The matter involves insolvency proceedings, though the specific nature of the dispute or allegations is not detailed in this procedural order. Legal representation was present for both parties during the hearing, with Ms. Vandhana Prabhu appearing for the appellant and Mr. Prajjwal Chauhan, Mr. Ankit Rajgarhia, and Mr. Adith Nair representing ARCIL (Respondent 1).
Final Outcome
The bench comprising Justice N. Seshasayee (Member - Judicial) and Jatindranath Swain (Member - Technical) has adjourned the matter and listed the appeal for hearing on 22 December 2026. This is a procedural order that does not address the merits of the case but simply schedules the next hearing date.
Topics: Insolvency Appeal, Corporate Litigation, NCLAT Proceeding