Indian Bank Insolvency Petition Adjourned After Respondent Death

Authority: National Company Law Tribunal (NCLT), Division Bench–I, Chennai

Order Date: 22 June 2026

Case Overview

This hearing concerned an insolvency petition filed by Indian Bank (Petitioner) against an individual, D R Balakrishna Raja (Respondent/Bankrupt). The proceedings were initiated under Sections 123 and 95 of the Insolvency and Bankruptcy Code (IBC), 2016, and were registered as CP(IBC)/256(CHE)/2025. During the hearing, it was reported that the sole respondent, D R Balakrishna Raja, had passed away. The petitioner's counsel, Ms. Bhargavi Sundar Rajan, informed the bench of this development and stated that the bank needed to take steps to bring the legal heirs of the deceased bankrupt onto the record.

Final Outcome

The bench, comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam, granted the petitioner's request for time to implead the legal heirs of the deceased respondent. The petition was adjourned and listed for its next hearing on 25 August 2026.

Topics: Insolvency, Legal Proceedings