SC stays Siva Industries liquidation after appeal by promoters

The Supreme Court has stayed a National Company Law Appellate Tribunal (NCLAT) order liquidating C Sivasankaran-promoted Siva Industries & Holdings, further dragging the already delayed bankruptcy case. In a one line ruling, the two judge bench of L Nageswara Rao and BR Gavai stayed the Chennai NCLAT judgement dated January 28, 2022 until further orders. The next hearing date is set in the last week of April.