Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 16.07.2026
Case Overview
The matter involves the liquidation proceedings of Kamachi Industries Ltd., with State Bank of India as the petitioner. The application (IA (LIQ.) PROGRESS REPORT/294(CHE)2026) was filed by the Liquidator to submit the 15th Progress Report for the quarter ended 30.06.2025. The Corporate Debtor (Kamachi Industries Ltd.) was sold as a 'going concern,' but some issues emerged post-sale. Appeals related to these matters are currently pending and are being pursued by the Liquidator.
Final Outcome
The NCLT bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam, accepted the 15th Progress Report subject to all just exceptions. The application was disposed of, meaning the court completed its review of the progress report without requiring further immediate action.
Topics: Corporate Insolvency, Liquidation Process, NCLT Proceedings