Authority: National Company Law Tribunal, Division Bench (Court– I), Chennai
Order Date: 18.06.2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai bench comprising Member (Judicial) Shri. Sanjiv Jain and Member (Technical) Shri. Venkataraman Subramaniam, heard a petition (CP/33(CHE)/2025) filed by Kumarasamy Shanmugam & 2 Others against M/s Greenycusp Land Holdings India Pvt Ltd & 2 Others. The petition was filed under Sections 130 and 241-242 of the Companies Act, 2013, which pertain to the revision of financial statements and cases of oppression and mismanagement.
The key background is that the tribunal had previously set Respondent 2 (R2) ex-parte. However, in an order dated 16.02.2026, the tribunal considered that the first respondent (R1), Greenycusp Land Holdings India Pvt Ltd, is a running company whose affairs need to be managed. It was noted that records were to be handed over by the petitioner to R2, but there was non-cooperation from R2. Consequently, the tribunal had directed the issuance of bailable warrants to secure R2's appearance. R2 subsequently appeared and gave an undertaking but failed to comply with it. The tribunal's order dated 30.03.2026 had further directed R2 to appear physically for the hearing on 18.06.2026.
During the hearing on 18.06.2026, Learned Counsel Shri. Pranav V Shankar appeared for the petitioners. No one appeared for Respondent 2 (R2), despite the previous order for physical appearance. The counsel submitted that despite the undertaking, R2 had not handed over the complete records/documents to the petitioner. He also highlighted that no reply had been filed by the respondent to date.
Final Outcome
The tribunal noted the non-appearance of R2 and the failure to comply with previous orders and undertakings. It adjourned the petition and listed it for the next hearing on 02.07.2026 for further proceedings.
Topics: NCLT Proceeding, Corporate Governance, Non-Compliance