Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 09.06.2026
Case Overview
The hearing concerned main petition TP(CA)/5/CHE/2016 and applications IA(CA)/104(CHE)/2026 and IA(CA)/105/CHE/2025 in the matter of Kuberan & 21 Ors Vs Monarch Steels India Ltd. The petitioners were represented by counsel Mr. Niranjan S Rao. Respondent 1 (R1) is the company, Monarch Steels India Ltd. Respondents 2 and 3 were not represented. The learned counsel for the petitioners submitted that the parties had entered into a settlement and that the agreed terms were currently being acted upon. A Monitoring Committee, chaired by Mr. A. Ranjit Babu, has been formed to oversee this process. Ms. Bharathi was present at the hearing representing Mr. A. Ranjit Babu.
Final Outcome
The bench, comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical), recorded the submissions regarding the settlement. The petition and applications were listed for the next hearing on 04.08.2026 for the purpose of reporting on the settlement's progress or for further hearing.
Topics: NCLT, Corporate Settlement, Legal Proceedings