Central Bank NCLT Recovery Update Rs 64 Lakh

Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai

Order Date: 14 July 2026

Case Overview

The National Company Law Tribunal (NCLT) Chennai heard an application in the ongoing insolvency proceedings between Central Bank of India (Financial Creditor) and James Walter (Corporate Debtor). The main petition is registered as CP(IB)/168(CHE)/2025. The specific application IA(IBC)/1171(CHE)/2026 was filed by the Bankruptcy Trustee, Mr. Chandrasekhar Sagutoor, seeking to place on record the third progress report for the quarter ended 30 June 2026. The Bankruptcy Trustee reported to the tribunal that a total amount of Rs 64 lakhs has been recovered in the case to date.

Final Outcome

The two-member bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical) accepted the progress report on record "subject to all just exceptions" and disposed of the application. The recovery proceedings under the Insolvency and Bankruptcy Code continue.

Topics: Insolvency Proceedings, Debt Recovery, NCLT Order