Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: June 16, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an insolvency petition filed by The Karur Vysya Bank Ltd against M V Kumarresan Vasmo Agro Nutri Product Pvt Ltd. The case is registered as CP/(IBC)/188(CHE)/2025 with an intervening application numbered IA(IBC)/1722(CHE)/2025. The hearing was conducted through video conferencing before a bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical).
Representation included Ld. Counsel Ms. Pavithra Dayalan for the petitioner (Karur Vysya Bank) and Ld. Counsel Shri. Shiva J Shankar for the Interim Resolution Professional (IRP). The respondent/personal guarantor was noted as ex-parte, meaning they were absent from the proceedings.
The primary issue discussed during the hearing concerned the maintainability of the petition on grounds of limitation, suggesting there may be questions about whether the petition was filed within the legally prescribed time limits. Arguments were partially heard but not concluded.
Final Outcome
The NCLT bench adjourned the proceedings and listed the petition for further arguments on July 24, 2026. The matter remains pending with no final decision rendered on the insolvency petition or the limitation issue.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Adjournment