Karur Vysya Bank vs Vasmo Agro NCLT Limitation Hearing

Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai

Order Date: 16 June 2026

Case Overview

The National Company Law Tribunal (NCLT), Chennai Bench, comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical), heard an insolvency petition filed by The Karur Vysya Bank Ltd against M Vasantha Vasmo Agro Nutri Product Pvt Ltd. The petition is registered as CP/(IBC)/195(CHE)/2025. An interlocutory application, IA(IBC)/1714(CHE)/2025, was also listed. Counsel Ms. Pavithra Dayalan appeared for the petitioner bank, and Counsel Shri. Shiva J Shankar appeared for the Interim Resolution Professional (IRP). The respondent, who is also the personal guarantor, was noted to be ex-parte. During the hearing, a significant legal challenge was raised regarding the maintainability of the petition on the grounds of limitation. The bench noted that arguments on this issue were only partly heard.

Final Outcome

The bench did not issue a final ruling on the petition. The matter was adjourned and listed for further arguments on the issue of limitation on 24 July 2026.

Topics: Insolvency Proceeding, Limitation Law, Banking Debt