Authority: National Company Law Appellate Tribunal Chennai Bench
Order Date: 24 July 2026
Case Overview
The National Company Law Appellate Tribunal (NCLAT) Chennai Bench heard Company Appeal (AT) (CH) No.77/2023 with IA No.1065/2023 in the matter of Sasisri Extractions Ltd. & 4 Others (Appellants) versus Mr. M. Srinivasa Rao & 6 Others (Respondents). The proceedings involve a corporate legal dispute between the company and multiple respondents. During the hearing, counsel for the respondents informed the tribunal that respondent No. 1, Mr. M. Srinivasa Rao, has since expired, requiring the appellants to file a substitution application. The respondents' counsel alleged that this substitution process was being delayed under the pretext of clearing defects in the application.
Final Outcome
The tribunal adjourned the appeal to August 3, 2026, listing it under the caption 'For Hearing (Interim Order)'. The appellants' counsel undertook to bring the substitution application on record by the next hearing date. The bench ordered that until the next date of hearing, any earlier interim order granted by the tribunal shall continue to remain in effect. The order was passed by Justice Yogesh Khanna (Officiating Chairperson) and Jatindranath Swain (Member Technical).
Topics: Corporate Litigation, NCLAT Proceedings, Substitution Application