# In the matter of Venkata Chalam Varanasi vs. Ushabai Agarwal

> NCLAT judgment dated 2026-04-06. Citation: TCN-2026-NCLAT-00086. The Appellant filed a Company Appeal against an order dated 20.01.2026, which arose from a…

- **Court:** NCLAT
- **Order date:** 6 Apr 2026
- **Citation:** TCN-2026-NCLAT-00086
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/venkata-chalam-varanasi-vs-ushabai-agarwal-bf50670f

## Summary

### Background

The Appellant filed a Company Appeal against an order dated 20.01.2026, which arose from a Contempt Petition. The Appellant had initially filed an application seeking directions for the Respondent to cooperate in furnishing financial statements.

## Facts

The Appellant filed an application seeking directions for the Respondent to cooperate in furnishing financial statements.

The Adjudicating Authority passed an order on 23.06.2025, directing the Respondents to extend assistance to the Appellant/Applicant Bank/Bankruptcy Trustee.

The Appellant filed a Contempt Petition alleging non-compliance with the order.

The Appellant filed the Contempt Petition under Section 425 of the Companies Act and Sections 10 & 12 of the Contempt of Courts Act, 1971.

The Tribunal rejected the Application for contempt, leading to the Company Appeal.

The Tribunal found that no orders had been deliberately violated and dismissed the Contempt Petition on 20.01.2026.

## Issues and analysis

### Issue 1: Whether the appeal against the impugned …

**Ratio:** Appeal against such

…

**Reasoning:** The Tribunal did not find merit in the Application for contempt preferred by the

…

**Interpretation:** Section 19(1) envisages Appeal against, only those orders where a punishment

…

**Application:** The Appeal is

…

## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Venkata Chalam…
- **Respondents:** Ushabai A…
- **Advocates:** Y. Suryana…

## Timeline

- **2026-04-06 — Oral Jud…**: Oral Judgment delivered by Justice…
- **2025-06-23 — Order by Adjudicating…**: The Adjudicating Authority passed an order in IA (IBC) / 952 / 2025, issuing directions…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 129 — Statement of financial position](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-129)

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