Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 05 August 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai heard Company Appeal (AT) (CH) (Ins) No. 228/2026 along with IA No. 634/2026. The appeal involves Ashwinkumar Kantilal Kamdar, Suspended Director of Prince Foundation Ltd., as the appellant versus Malco Gems & Another as respondents. The hearing was conducted in hybrid mode with representation from advocates for both parties - Mr. Avinash Krishnan Ravi for the appellant and Mr. J. Manivannan for the first respondent.
The tribunal noted that the learned counsel for the appellant was unavailable due to a medical emergency in his family. This procedural hearing primarily addressed the scheduling of the matter rather than substantive issues of the insolvency appeal.
Final Outcome
The NCLAT adjourned the hearing and listed the appeal for the next hearing on 28 September 2026. The tribunal directed both sides to submit their pointed notes of submissions. The interim order granted by the tribunal on 15 April 2026 will continue to operate until the next date of listing, thereby maintaining the status quo until the September hearing.
Topics: Corporate Insolvency, Legal Proceedings