Authority: National Company Law Tribunal, Division Bench–I, Chennai
Order Date: 30 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an application filed by Indian Bank against United Steel Building Systems Pvt. Ltd. The application has been filed under Section 66 of the Insolvency and Bankruptcy Code, 2016 (IBC). The basis for this application is a forensic audit report that was received during the pendency of the liquidation application against United Steel Building Systems. The main petition number is CP(IBC)/151(CHE)/2023, and the specific application number being heard is IA(IBC)/1019(CHE)/2026.
Representation was present from both parties: Ms. E. Santhanlakahsmi appeared as learned counsel for the Liquidator, while Shri. R. Praveen appeared as learned counsel for the Respondents (United Steel Building Systems). The respondent's counsel accepted notice of the application.
Final Outcome
The Tribunal has listed the application for reply and arguments on its maintainability on 25 August 2026. No substantive decision was made on the merits of the application during this hearing.
Topics: Insolvency, Forensic Audit, Banking Litigation