Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 09 June 2026
Case Overview
This hearing pertains to an interlocutory application (IA(IBC)/454(CHE)2024) within the main insolvency petition CP(IBC)/988/CHE/2019 concerning JKS The Banyaan Pvt Ltd. The matter was heard by a bench comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam. Counsel for the Liquidator, Ms. Deepa Mariappan, appeared along with the Liquidator. Counsel for the Respondents, Ms. Priyanka Varma, informed the tribunal that, pursuant to an order from the National Company Law Appellate Tribunal (NCLAT) dated 20 May 2026, the liquidation auction process for the company has been deferred. She further stated that the matter was scheduled for a hearing before the NCLAT on the same day (09.06.2026).
Final Outcome
The NCLT bench listed the application for further hearing on 27 July 2026, explicitly noting that it is awaiting the orders or outcome of the hearing before the NCLAT. The auction process remains deferred until that time.
Topics: Corporate Insolvency, Liquidation Process