Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 22.06.2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard multiple applications related to the liquidation proceedings of Corporate Debtor Cargowings Logistics Ltd (Main Petition CP(IB)/121(CHE)/2023). The bench comprised Hon'ble Shri Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical).
Four applications were heard:
1. IA(IBC)(DIS)/13(CHE)/2026: An application for dissolution of the Corporate Debtor. The Liquidator and counsel Mr. Sudheer Ram were present. The tribunal listed this application for hearing on 24.07.2026 and granted permission to file an Affidavit of service.
2. IVN.P(IBC)/3(CHE)/2026 and IA(IBC)/1213(CHE)/2025: These applications involved payment issues. Counsel for the applicant reported that Mahindra and Mahindra and Sriram Finance Ltd had not made required payments, except for a payment of ₹10 lakhs made by Sriram Finance Ltd. The tribunal noted that on 04.05.2026, the Deputy Legal Manager for Mahindra and Mahindra had appeared and undertaken to pay costs by 25.05.2026, which remained unfulfilled. Counsel for Sriram Finance Ltd claimed to have e-filed a reply, but the tribunal could not locate it on the e-portal, and the applicant confirmed not receiving a copy.
3. Cont.A(IBC)/7(CHE)/2025: This contempt application concerned compliance with a previous order dated 04.11.2025 that directed the Liquidator to pay the erstwhile Resolution Professional (RP) amounts due for office premises rental. Both the erstwhile RP's counsel (Mr. Thilak Narayanan) and the Liquidator's counsel (Mr. Sudheer Ram) were present.
Final Outcome
The tribunal directed the Liquidator to immediately comply with the 04.11.2025 order by making the rental payment to the erstwhile RP and to submit compliance within one week. The erstwhile RP was directed to issue a receipt upon payment. This application was listed for compliance verification on 24.06.2026. The other applications (IVN.P(IBC)/3(CHE)/2026 and IA(IBC)/1213(CHE)/2025) were also listed for physical hearing on 24.06.2026.
Topics: Corporate Insolvency, Liquidation Process, Tribunal Directions