Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: 16 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to CP(IBC)/315(CHE)/2025 and IA(IBC)/991(CHE)/2026. The main petition involves The Karnataka Bank as the petitioner and Kashasai Elangkumaran as the personal guarantor. The Insolvency Resolution Professional (IRP) report is already on record. During the hearing held through video conference, the personal guarantor's counsel sought additional time to file a reply or objection to the petition.
Final Outcome
The bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical) granted one week's time to the personal guarantor to file their reply/objection. The matter has been adjourned and listed for final hearing on 24 August 2026.
Topics: Insolvency Proceeding, Banking Sector, Personal Guarantee