Authority: National Company Law Appellate Tribunal, Chennai Bench (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: 19 August 2026
Case Overview
This appeal arises from Company Appeal (AT) (CH) (Ins) No. 371/2026 with IA No. 1056/2026. Refex Industries Ltd. (Appellant) has challenged an order that rejected its claim against Landmark Housing Projects Chennai Pvt. Ltd., which is in liquidation. The appealed order essentially confirmed the decision of the liquidator, Ebenezar Inbaraj (Respondent), to reject Refex Industries' claim.
During proceedings, the liquidator's counsel made a significant submission regarding the status of assets. He stated that properties already sold by the liquidator had been distributed among creditors in accordance with Section 53 of the Insolvency and Bankruptcy Code (IBC). However, he added that sufficient properties remain available to pay the appellant, should Refex Industries succeed in this appeal. This statement was formally recorded by the tribunal.
The tribunal has directed both parties to submit pointed notes of submissions and has listed the appeal for hearing on 14 October 2026.
Final Outcome
The appeal remains pending with the next hearing scheduled for 14 October 2026. The liquidator's acknowledgment that sufficient properties remain to potentially satisfy Refex Industries' claim if successful is noted on record.
Topics: Insolvency Proceedings, Claim Adjudication, Liquidation Distribution