Authority: National Company Law Tribunal, Division Bench - Court II, Chennai
Order Date: 13 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Bench heard matters related to the insolvency proceedings of INMA International Ltd, initiated by Indian Overseas Bank under Section 7 Rule 4 of the Insolvency and Bankruptcy Code, 2016. The case reference is C.P. (IB)/49(CHE)2019.
Two interconnected applications were before the tribunal:
1. IA(IBC)/2342/2023 filed by Resolution Professional Dr. S R Shriraam Shekher against G Sundaravadivelu under Section 66(1) & (2) of IBC, 2016 read with Rule 11 & 14 of NCLT Rules, 2016
2. IA(IBC)/440(CHE)2023 filed by Resolution Professional SR.Shriraam Shekher against G.Sundaravadivelu (Suspended Director) and another under Section 19(2) of IBC, 2016 read with Rule 11 & 14 of NCLT Rules, 2016
Representation included Mr.S.R.Raghunathan and Mr.B.Thilak Narayanan for the Applicant Resolution Professional, and Mr. Sriram Ananth for the Suspended Directors.
The Counsel for the Applicant Resolution Professional stated that connected matters were reserved for orders on 09 June 2026 and that the adjudication of those matters would impact the current applications, therefore seeking an adjournment.
Final Outcome
The NCLT Chennai Bench comprising Member (Judicial) Shri. Jyoti Kumar Tripathi and Member (Technical) Shri. Ravichandran Ramasamy adjourned the hearing and listed the applications for next hearing on 01 September 2026. No substantive orders were passed in this hearing.
Topics: Corporate Insolvency, NCLT Proceedings, IBC Applications