NCLAT Chennai passes oral status quo order in appeal against approved resolution plan

NCLAT Chennai passed oral orders on Oct 1, 2026 to maintain status quo as on that date.

Fri 2 Oct 2026

NCLAT Order

NCLAT Chennai passed oral orders on Oct 1, 2026 to maintain status quo as on that date

Appeal Number

Company Appeal CA(AT) INS No. 516 of 2026

Appeal Shared By

Mr. Vivek Kumar Ratakonda, an un-successful Resolution Applicant

Order Under Challenge

NCLT Hyderabad order dated Sep 8, 2026 approving the resolution plan of M/s. Innopark (India) Private Limited

Next Hearing

Matter adjourned to Nov 3, 2026; hearing from November 3, 2026 to November 6, 2026

What the company has informed

• Mr. Vivek Kumar Ratakonda, described in the update as an un-successful Resolution Applicant, has shared an appeal before the Hon'ble NCLAT, Chennai bench vide Company Appeal CA(AT) INS No. 516 of 2026.
• The appeal challenges the order of the Hon'ble NCLT, Hyderabad bench dated September 8, 2026 approving the Resolution Plan of M/s. Innopark (India) Private Limited, referred to in the update as the SRA (Successful Resolution Applicant).
• The appellant's submissions were heard on October 1, 2026 by the Hon'ble NCLAT, Chennai bench, and based on the appellant's arguments, oral orders to maintain status quo as on October 1, 2026 were passed.

Where the matter stands now

• The opportunity for hearing the submissions of the Resolution Professional, the Committee of Creditors and the Successful Resolution Applicant is given from November 3, 2026 to November 6, 2026.
• The matter has accordingly been adjourned to November 3, 2026.
• The status quo is to be maintained till it is vacated by the Hon'ble NCLAT, Chennai bench.
• The written orders of October 1, 2026 are yet to be uploaded on the Hon'ble NCLAT website and made available; the Resolution Professional undertakes to share the order with BSE as and when it is made available.

What the company says about the impact

• The listed company is presently not having any operations.
• Delay in disposal of the appeal will result in delay in the revival of the Corporate Debtor.
• The company states that it intends to take such legal steps as may be appropriate in accordance with applicable law to protect and defend the interests of the company, its shareholders and other stakeholders.

How a retail investor might read this

• An appeal is pending before the NCLAT against the approval of the resolution plan, and the NCLAT has passed oral orders to maintain status quo as on October 1, 2026. This means the position as on that date continues for now.
• The hearing of the Resolution Professional, Committee of Creditors and Successful Resolution Applicant is scheduled from November 3, 2026 to November 6, 2026, so the matter is listed again on November 3, 2026.

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