Details of Litigation & Order
Opposing Party: M/s. Marg Limited, Chennai
Tribunal: National Company Law Tribunal (NCLT), Division Bench-II, Chennai.
Date of Order Receipt: The order dated 07/08/2026 was uploaded on the website of the NCLT on 28/08/2026. The company received it and filed this disclosure on 29/08/2026.
Brief Details of Dispute: Jyoti Limited (as the Operational Creditor) had filed an application under section 9 of the Insolvency and Bankruptcy Code, 2016. The petition number was CP(IB)/262(CHE)2022, filed on 3rd November, 2022, against M/s. Marg Limited (the Corporate Debtor). The purpose was to initiate a Corporate Insolvency Resolution Process (CIRP) for the recovery of an operational debt amounting to ₹22.67 crores, which includes interest.
Details of the Order Passed: The Hon'ble Division Bench of the NCLT Chennai, after considering submissions from both parties, passed an order on 07/08/2026. This order dismissed the application filed by Jyoti Limited under section 9 of the IBC, 2016.
Financial Implications & Quantum of Claim
Quantum of Claim: The total claim amount is ₹22.67 crores (including interest).
Expected Financial Implications: The disclosure states, "The Company is taking appropriate steps to appeal against the order before the appropriate authority and other necessary actions as required." No immediate financial implications from compensation or penalty are quantified in the disclosure. The financial impact of the dismissal itself is the non-recovery of the claimed ₹22.67 crores through the CIRP process at this time.