Authority: National Company Law Appellate Tribunal, Chennai (Justice N. Seshasayee - Member (Judicial) and Jatindranath Swain - Member (Technical))
Order Date: August 18, 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) at Chennai has admitted three interconnected appeals arising from the liquidation proceedings of Reliable Cashew Company Pvt Ltd. The appellant in all three cases is Ravindra Beleyur, who served as the Resolution Professional and is now the Liquidator of Reliable Cashew Company Pvt Ltd.
The appeals challenge three independent orders from the same liquidation proceedings, all of which were applications taken out by the liquidator and subsequently dismissed by the lower tribunal. Specifically:
- Company Appeal (AT) (CH) (Ins) No.390/2026 arises from an application filed under Section 50 of the Insolvency and Bankruptcy Code, 2016
- Company Appeal (AT) (CH) (Ins) No.393/2026 and Company Appeal (AT) (CH) (Ins) No.394/2026 are preferred against separate orders passed under Section 66(1) of the Insolvency and Bankruptcy Code, 2016
The respondents across the three appeals include Samunnati Financial Intermediation & Services Pvt Ltd (in Appeal No.390/2026) and Shanthanu Malnad along with other respondents (4 others in Appeal No.393/2026 and 5 others in Appeal No.394/2026).
Final Outcome
The NCLAT admitted all three appeals and directed issuance of notice to the respondents through almost all modes except substituted service. The tribunal also allowed notice to be served on the learned counsel for the respondents who appeared before the tribunal below. The appeals have been listed for next hearing on October 7, 2026.
Topics: Insolvency Proceedings, NCLAT Appeals, Liquidation Matters