M/S. Inma International Limited Represented By Its Resolution Professional Dr.S.R.Shriraam Shekher vs G.Rathinavelu

Court: National Company Law Appellate Tribunal
Case type: Company Appeal(AT)(Ins)
Decided on: 01-04-2026

<div> NATIONAL COMPANY LAW APPELLATE TRIBUNAL AT CHENNAI (APPELLATE JURISDICTION) Company Appeal (AT) (CH) (Ins) No. 182/2026 (IA No.535/2026) In the matter of: INMA International Ltd., Rep by its Dr. SR Shriraam Shekhar, Resolution Professional of M/s. INMA International Limited having office at Flat 11, Prayag Apartments, st 1 Floor, 8/15, Gandhi Nagar, First Main Road, Adyar, Chennai – 600 020. … Appellant V G. Rathinavelu, Suspended Director of M/s. INMA International Ltd. No.11/185, Gangai Amman Koil Street, Vengaivasal, Chennai – 600 126. … Respondent Present : For Appellant : Mr. S.R. Raghunathan, Advocate For Mr. B. Thilak Narayanan, Advocate For Respondents : Mr. F. Raymond Albyness, Advocate With Company Appeal (AT) (CH) (Ins) No.183/2026 In the matter of: INMA International Ltd., Rep by its Dr. SR Shriraam Shekhar, Resolution Professional of M/s. INMA International Limited having office at Flat 11, Prayag Apartments, st 1 Floor, 8/15, Gandhi Nagar, First Main Road, Adyar, Chennai – 600 020. … Appellant V G. Rathinavelu, Suspended Director of M/s. INMA International Ltd. No.1-C, Rahul Apartments, st 24, Cenotaph 1 Street, Teynampet, Chennai – 600 018. Saraswat Co-operative Bank Ltd., Corporate Office, Apps SahebMarathe Road, Comp App (AT) (CH) (Ins) Nos.182 & 183/2026 Page 1 of 4 Prabhadevi, Mumbai – 400 025. Indian Overseas Bank Rep by its Assistant General Manager, Cathedral Branch, No.762, Anna Salai, Chennai – 600 002. … Respondents Present : For Appellant : Mr. S.R. Raghunathan, Advocate For Mr. B. Thilak Narayanan, Advocate [ For Respondents : Mr. F. Raymond Albyness, Advocate for R1 ORDER (Hybrid Mode) [ORAL JUDGMENT: Justice Ashok Bhushan (Chairperson)]:- 01.04.2026: Heard the Learned Counsel for the Appellant as well as the learned counsel appearing for Respondent. These two appeals have been filed by the same Appellant challenging the impugned order dated 12.03.2026, passed by the National Company Law Tribunal, Divisional Bench-II, Chennai. 2. The Comp App (AT) (CH) (Ins) No.182/2026, has been filed against the order passed by the NCLT in IA(IBC)/366(CHE)/2026, whereas Company Appeal (AT) (CH) (Ins) No.183/2026 has been preferred challenging the order passed by the National Company Law Tribunal, Divisional Bench-II, Chennai, in IA(IBC)/2019(CHE)/2025. 3. By the order dated 12.03.2026, the learned NCLT has permitted the Respondent No.1 to withdraw the two IAs being IA(IBC)/935(CHE)/2024 & IA(IBC)/366(CHE)/2026, and while withdrawing the application, the Learned Adjudicating Authority has further directed the Resolution Professional to ensure Comp App (AT) (CH) (Ins) Nos.182 & 183/2026 Page 2 of 4 that full access to be provided to the Respondent No.1 (Suspended Director of the Corporate Debtor). 4. The order passed by the learned NCLT on 12.03.2026 in IA(IBC)/935(CHE)/2024 was challenged by the Appellant in Comp App (AT) (CH) (Ins) No.170/2026, which came to be partly allowed by our judgment and order dated 30.03.2026. In paragraphs 13 to 15, we directed as follows: - “13. After having heard the Ld. Counsels for the parties, we are of the view that the possession and the access by the Resolution Professional having become final by the Order dated 18.10.2024 by Ld. NCLT and by dismissal of the Appeal preferred against it by this Appellate Tribunal. The possession and the access to the RP, cannot now be disputed by anyone, including the Respondent No. 1. 14. As far as the submission of Respondent No. 1, that obstructions are being created by the Resolution Professional with regard to the access of certain other entities who were carrying their business from their premises in question, we are of the view that, it shall be open for such entities to file an appropriate application, if so advised before the Ld. Adjudicating Authority, and the order impugned, shall not come in their way in prosecuting the said Applications in accordance with law. 15. With this, we are of the view that, the impugned order of the Ld. Adjudicating Authority in so far as it had directed the Resolution Professional to ensure full access is set aside, accordingly, the instant Company Appeal (AT) (CH) (INS) No. 170 / 2026 is partly allowed.” 5. The Comp App (AT) (CH) (Ins) No.182/2026, having been filed against the order that was passed in IA(IBC)/366(CHE)/2026, was an interim prayers in Comp App (AT) (CH) (Ins) Nos.182 & 183/2026 Page 3 of 4 IA(IBC)/935(CHE)/2024. The Comp App (AT) (CH) (Ins) No.182/2026 is disposed in terms of the order dated 30.03.2026 passed in Comp App (AT) (CH) (Ins) No.170/2026. 6. The Comp App (AT) (CH) (Ins) No.183/2026 has been filed challenging the order dated 12.03.2026, by which the IA filed by the Appellant, being IA No.2019/2025, has been dismissed as having rendered infructuous. 7. We have already passed an order on 30.03.2026, partly allowing the appeal. We are of the view that, IA(IBC)/2019(CHE)/2025 need to be revived for its fresh consideration before the Learned Adjudicating Authority. 8. In view of the above, the order passed on 12.03.2026 dismissing the IA(IBC)/2019(CHE)/2025 as infructuous is set aside and IA(IBC)/2019(CHE)/2025 is revived on records before the NCLT to be heard and decided in accordance with law. 7. In view of the aforesaid order, both the Comp App (AT) (CH) No.182/2026 & Comp App (AT) (CH) No.183/2026 are disposed of accordingly. [Justice Ashok Bhushan] (Chairperson) [Justice Sharad Kumar Sharma] Member (Judicial) [Jatindranath Swain] Member (Technical) VG/MS/AK Comp App (AT) (CH) (Ins) Nos.182 & 183/2026 Page 4 of 4 </div>