NCLAT keeps status quo in resolution plan appeal; final hearing on Nov 3, 5 and 6, 2026
Baron Infotech Ltd has disclosed the NCLAT Chennai order dated 01.10.2026 in Company Appeal (AT) (CH) (Ins) No. 516/2026.
By ScoutQuest · · 3 min read
- Plan Value (Earlier Round)
- ₹30.32 crores
- Plan Value (Fresh Quote)
- ₹161.85 crores
- Plan Value After Typo Correction
- about ₹92.6 crores
What this update is
Baron Infotech Ltd has disclosed the NCLAT, Chennai Bench order dated October 1, 2026 in Company Appeal (AT) (CH) (Ins) No. 516/2026. The disclosure is in continuation of earlier intimations about the status quo pronounced by the Tribunal on October 1, 2026, and the order uploaded on the NCLAT website is attached.
What the appeal is about
The order records that the appeal is preferred by a defeated resolution plan proponent who challenges the approval given to the resolution plan of the 3rd respondent by the Adjudicating Authority. The appellant is Vivek Kumar Ratakonda, described as a Resolution Applicant of Baron Infotech Ltd; the respondents include Ahalada Rao Vummenthala, RP of Baron Infotech Limited, and two others.
- In the 21st meeting of the CoC held on 02.04.2026, the appellant's plan was ranked H1
- The CoC chose to go for a challenge mechanism enabled by the RFRP, and applicants were to be given a period of seven (7) days to improve their resolution plans
- The 3rd respondent was earlier ranked H2
- The appellant says the 3rd respondent, in its revised plan, brought in M/s Purple Talk India Private Limited, proposed to be merged with the corporate debtor, and that Purple Talk's board approved the merger on 06.04.2026 and convened an EGM on 09.04.2026
- The appellant contends the facts indicate match-fixing in finalising the plan and raise strong doubts on the integrity and purity of the resolution process
- The order records the resolution professional's statement that in the initial plan of the SRA there was no proposal for reviving the corporate debtor through merger, whereas in the revised plan stage it was so done
Plan values referred to in the order
- Appellant's plan value in the earlier round: around ₹30.32 crores
- In the fresh round, the appellant quoted a plan value of ₹161.85 crores
- He later corrected a typographical error of about ₹60.0 crores, which would bring the plan value to about ₹92.6 crores
- Under one head he had given ₹66.0 crores where he says his intention was to provide only ₹6.6 crores, a difference of ₹59.4 crores
- The H1 rank he was assigned was based on his quotation for ₹161.85 crores
Hearing schedule fixed in the order
- Arguments of the resolution professional at 12.00 pm on 03.11.2026
- Arguments for the SRA on 05.11.2026
- Spill over, if any, on 06.11.2026, on which date the appellant is also required to reply
- Both sides are required to submit pointed notes of submissions, with any document or authority relied on extracted in the notes
- The order states: There will be an order of status quo
- The appeal is listed on 03.11.2026, 05.11.2026 and 06.11.2026 at 12 noon
How to read this
The order sets out the facts, the appellant's contentions about the challenge mechanism and the revised plan stage, and the submissions made briefly for the resolution professional and the SRA. It notes that the present challenge is to the resolution plan and that this is the 2nd round of CIRP. The final dates of hearing are fixed, and the order records that there will be an order of status quo.
Also from Baron Infotech
Monitoring Committee approves statutory and compliance matters; notes NCLAT interim orders in applicant's appeal
23 Oct 2026
Monitoring Committee's 4th meeting convened for October 22, 2026 to discuss NCLAT interim orders
19 Oct 2026
NCLT takes on record 1st quarterly Monitoring Committee report on Resolution Plan implementation
16 Oct 2026
More numbers
- Plan value quoted by appellant in fresh round₹161.85 crores
- Plan value after correction of typographical error₹92.6 crores
- Typographical error corrected by appellant₹60.0 crores
- Value under one head in appellant's original plan₹66.0 crores
- Amount appellant says he intended to provide₹6.6 crores
- Difference identified by appellant₹59.4 crores
- Appellant's plan value in earlier round of CIRP₹30.32 crores
- Period given to applicants to improve resolution plansseven (7) days
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.