Authority: National Company Law Tribunal, Division Bench (Court– I), Chennai
Order Date: 17 June 2026
Case Overview
This is an order from a hearing in the matter of Company Petition No. CP(CAA)/33(CHE)/2026, filed by Dhanushkanthi Real Esates Pvt Ltd under Sections 230-232 of the Companies Act, 2013, which pertain to schemes of arrangement or compromise. The hearing was conducted via video conference before a bench comprising Hon'ble Shri. Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical). Counsel for the petitioner, the Assistant Official Liquidator, the counsel for the Resolution Professional (RD), and the counsel for the Income Tax Department were present.
The key matter for the hearing was the status of reports required for the petition. The Assistant Official Liquidator submitted that a report from a Chartered Accountant was still awaited.
Final Outcome
The Tribunal granted a three-week extension to the Resolution Professional and the Income Tax Department to file their respective reports. Any responses to these reports are to be filed within one week after they are submitted. The main petition has been adjourned and is now listed for its next hearing on 22 July 2026. The Tribunal also granted permission to the petitioner company to file an affidavit of service.
Topics: NCLT Proceeding, Scheme of Arrangement, Corporate Restructuring