NCLAT Keeps Effect of NCLT Order Regarding Chairman's Personal Guarantee in Abeyance
Sathlokhar Synergys E&C Global Limited has received an update concerning proceedings initiated against its Chairman and Managing Director, Mr. G. Thiyagu, clarifying that the insolvency matters do not impact the company’s operations or financial standing.The situation arose from an order passed by the National Company Law Tribunal (NCLT) on June 9, 2026. The proceedings related to the NCLT order involve Mr. G. Thiyagu as a Personal Guarantor for credit facilities availed by an unrelated entity in January 2014.
Mr. G. Thiyagu subsequently appealed this matter before the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, through Company Appeal (AT) (CH) (Ins.) No.307 of 2026. The appeal challenges the NCLT order, citing limitation grounds and seeking a stay on the commencement of the Insolvency Resolution Process.
In response to this appeal, the NCLAT issued an Order dated July 8, 2026. This order placed the effect and operation of the original NCLT Order from June 9, 2026, in abeyance until the next hearing date. The NCLAT also directed the Respondents to file their respective counter affidavits within three weeks.
The default amount mentioned in the petition filed before the NCLT by the lender was Rs.3,65,28,644/- with further interest.
A statement released by Sathlokhar Synergys E&C Global Limited confirmed that the insolvency proceedings are exclusively related to Mr. G. Thiyagu as a Personal Guarantor and are not connected to the affairs, assets, or operations of the company. The company clarified its relationship to the dispute in a report providing transparency regarding corporate governance.
Key points concerning the company's operational status include:
- Neither the Company nor any of its directors or Key Managerial Personnel (KMPs) are parties to the proceedings before the NCLT or NCLAT.
- The company’s assets and borrowings are not part of the subject matter of these proceedings.
- The NCLT Order has no impact on the business operations, financial position, management, or day-to-day functioning of Sathlokhar Synergys E&C Global Limited.
Sathlokhar Synergys E&C Global Limited is involved in various construction and infrastructure projects, including construction of buildings and facilities for industrial, commercial institutional, warehouse, pharma, hospitals, hotels, and solar power projects. The company also operates as an EPC and Infra Turnkey Contractor for Electrical HT & LT (ESA635) Contractors, HVAC, FPS, PHE, IBMS, and Utility Projects.
SSEGL Stock Price Movement
Today, shares of Sathlokhar Synergys E&C Global Limited edged higher in the post-market session, gaining 2.53% to settle at ₹320.50 after closing trading. The equity finished the day strong, having traded within an intraday range of ₹312 to a high of ₹325.9.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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