Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: 17 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to Company Petition No. CP(CAA)/29(CHE)/2026 filed by AAPEX Power And Industries Pvt Ltd under Sections 230-232 of the Companies Act, 2013. These sections typically deal with schemes of arrangement, compromise, or reconstruction between a company and its creditors/members. The petition appears to involve a corporate restructuring proposal.
Multiple parties were represented during the hearing: Senior Counsel Mr. Santhanakrishnan along with Mr. Subhang Nair represented the petitioner (AAPEX Power). Mr. Avinash Krishnan Ravi appeared for the Resolution Professional (RD), while the Assistant Official Liquidator was present in person. Mr. Rajkumar Jhabakh represented the Income Tax Department, and Ms. Dhanalakshmi appeared for Tamil Nadu Power Distribution Company Limited (TNPDCL).
The Official Liquidator had already filed a report on the matter. The Assistant Official Liquidator submitted that based on the response received from the petitioner, the Official Liquidator raised no objections to the petition. The petitioner's response was electronically filed, and the Registry was directed to accept the hard copy.
Final Outcome
The Tribunal granted two weeks each to the Resolution Professional and Income Tax Department to file their replies/responses. Any responses to these reports must be filed within two subsequent weeks. TNPDCL was also granted two weeks to file their reply, with any responses to be filed thereafter. The petition was scheduled for final hearing on 05 August 2026.
The order was signed by both members of the Division Bench: Hon'ble Shri. Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical).
Topics: NCLT Proceedings, Corporate Restructuring