Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 06 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard multiple applications in the matter of The India Cements Ltd versus Call Express Constructions Pvt Ltd (Main Petition CP(IBC)/17(CHE)/2023). The primary application (IA(I.B.C)/1111(CHE)2026) was filed by The India Cements Ltd seeking to set aside and quash an email dated 18 February 2026 from the Successful Resolution Applicant (SRA) that rejected the applicant's request for substitution regarding an admitted claim of Rs. 3,53,30,185.52 pertaining to Flat No. A-3, 3rd Floor, Ushera, Chennai-600119. The applicant sought to substitute the name of Mr. Anil Harsh with its own name in the approved Resolution Plan and consequential records, seeking recognition as a secured Financial Creditor for implementation purposes.
Additionally, the tribunal heard seven other interim applications (IA numbers: 692, 646, 665, 642, 647, 648, and 650 of 2026). For applications IA(IBC)/646(CHE)/2026, IA(IBC)/647(CHE)/2026, and IA(IBC)/648(CHE)/2026, the Learned Senior Counsel stated that the issues had been resolved and payments made. The SRA's counsel confirmed that no payment was due specifically for IA(IBC)/648(CHE)/2026 but acknowledged resolution.
Final Outcome
The tribunal granted two weeks' time to the respondents to file their reply to the main substitution application (IA(I.B.C)/1111(CHE)2026) and listed it for hearing on 10 August 2026. Three applications (IA(IBC)/646, 647, and 648/CHE/2026) were closed as no further cause of action survived due to resolution and payment. The remaining four applications (IA(IBC)/692, 665, 642, and 650/CHE/2026) were adjourned to 17 July 2026 to allow for resolution, with no objection from the SRA's counsel. The Registry was directed to accept the memo of the Resolution Professional and SRA relating to compliance.
Topics: Insolvency Proceedings, Claim Substitution, Resolution Plan Implementation