Authority: National Company Law Appellate Tribunal, Chennai (Appellate Jurisdiction)
Order Date: 12th June 2026
Case Overview
The appeal, registered as Company Appeal (AT) (CH) (Ins) No. 136/2026, involves Ritesh Mahajan in his capacity as the Resolution Professional (RP) of Sovereign Industries Limited as the Appellant. The Respondents are Terdal Urban Souharda Co-operative Society Ltd. and five other parties. The matter pertains to an insolvency proceeding. The order issued on 12th June 2026 is a procedural directive for the ongoing appeal.
Final Outcome
The NCLAT bench, comprising Justice Yogesh Khanna (Member - Judicial) and Jatindranath Swain (Member - Technical), has adjourned the hearing of the appeal. The next date of hearing is scheduled for 9th July 2026. The learned counsels representing both the Appellant and Respondent No. 1 have been directed to jointly file a convenience compilation on or before the next date of hearing. No substantive ruling on the merits of the case was issued in this order.
Topics: Insolvency Appeal, NCLAT, Procedural Order