A. Joseb Raj v. P.R. Raman and Anr., Company Appeal (AT) (CH) (Ins) No. 457/2025, NCLAT Chennai Bench.
In a recent pronouncement, the Chennai Bench of the National Company Law Appellate Tribunal, comprising Justice Sharad Kumar Sharma (Judicial Member) and Mr. Jatindranath Swain (Technical Member), dismissed a company appeal challenging the liquidation-stage e-auction of the assets of Oceanic Edibles International Limited. The decision offers a useful reaffirmation of the finality accorded to concluded auction processes under the Insolvency and Bankruptcy Code, 2016, and the limited scope for interference once a sale certificate has been issued.
Factual Background
Commencement of CIRP and Liquidation
The corporate…