# KK Kartheeswaran vs. Ranchpride Agrocomm Pvt. Ltd. & Anr.

> NCLAT judgment dated 2026-06-11. Citation: TCN-2026-NCLAT-00209. KK Kartheeswaran, the Suspended Director of 63Ideas Infolabs Pvt. Ltd., filed a Company…

- **Court:** NCLAT
- **Order date:** 11 Jun 2026
- **Citation:** TCN-2026-NCLAT-00209
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/kk-kartheeswaran-vs-ranchpride-agrocomm-pvt-ltd-anr-3oxhr

## Summary

### Background

KK Kartheeswaran, the Suspended Director of 63Ideas Infolabs Pvt. Ltd., filed a Company Appeal challenging an order dated 31.10.2025 passed by the Ld. NCLT, Bengaluru. This NCLT order had admitted an application filed by Ranchpride Agrocomm Pvt. Ltd. (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, thereby commencing the Corporate Insolvency Resolution Process (CIRP) against 63Ideas Infolabs Pvt. Ltd. (Corporate Debtor).

## Facts

KK Kartheeswaran, Suspended Director of 63Ideas Infolabs Pvt. Ltd., filed a Company Appeal challenging an NCLT Bengaluru order dated 31.10.2025.

The NCLT order admitted an application by Ranchpride Agrocomm Pvt. Ltd. (Operational Creditor) under Section 9 of the I&B Code, 2016, against 63Ideas Infolabs Pvt. Ltd. (Corporate Debtor).

The NCLT order initiated the Corporate Insolvency Resolution Process (CIRP) against 63Ideas Infolabs Pvt. Ltd.

On 09.12.2025, the NCLAT passed an interim order keeping the NCLT order in abeyance, subject to the Appellant depositing Rs. 3.5 crores.

The Appellant deposited a Demand Draft of Rs. 3.5 crores, which was clarified on 23.12.2025 to be in favour of "Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi".

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## Issues and analysis

### Issue 1: Whether the order of the Ld. NCLT, Bengaluru dated 31.10.2025, admitting the application under …

**Ratio:** The NCLAT did not render a final judgment on the merits of the NCLT order. Instead, it

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**Reasoning:** The Tribunal initially kept the impugned NCLT order in abeyance, conditional on a

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**Interpretation:** Section 12A of the I&B Code allows for the withdrawal of an application

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**Application:** The principle of allowing parties to settle disputes amicably, even after an

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** KK Karthee…
- **Respondents:** 63Ideas Infolabs…; Ranchpride…; +1 more
- **Advocates:** Pranav Gopalakrish…; Mayan H…; +2 more

## Timeline

- **2025-10-31 — NCLT Ord…**: Ld. NCLT, Bengaluru passed an order in CP(IB)/167/BB/2024, admitting the application…
- **2025-12-09 — NCLAT Interi…**: The NCLAT considered the matter and passed an interim order, keeping the effect and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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