Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 06.07.2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard multiple applications in the corporate insolvency resolution process of Greenocare Engineering Pvt Ltd (Main Petition Number: CP(IB)/103(CHE)/2024). The matter involves C A Sunny (promoter/suspended director) as the applicant versus Greenocare Engineering Pvt Ltd as the respondent. Three interlocutory applications were considered: IA(IBC)(LIQ)/11(CHE)2026 (liquidation application), IA(IBC)/986(CHE)2026, and IA(IBC)/1252(CHE)/2025.
The suspended director, C A Sunny, had previously committed to bringing Rs. 6.0 crores but presented only Rs. 1.0 crore through a demand draft during this hearing. The Resolution Professional (RP) has filed an application seeking liquidation of the Corporate Debtor based on a resolution passed by the Committee of Creditors (CoC) recommending winding up.
Final Outcome
The Tribunal listed the liquidation application (IA(IBC)(LIQ)/11(CHE)2026) for final orders on 03.08.2026. The suspended director was granted liberty to approach the Financial Creditor for a settlement or One-Time Settlement (OTS) in the interim period. The other applications (IA(IBC)/986(CHE)2026 and IA(IBC)/1252(CHE)/2025) were listed for hearing on 20.08.2026.
Topics: Corporate Insolvency, NCLT Proceeding