Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 30 June 2026
Case Overview
The matter involves a petition (CP(IBC)/236(CHE)/2025) filed by Sreedevi Jayachandran against Canara Bank. Two interim applications were being heard: IA(IBC)/703(CHE)/2026 and RST.A(IBC)/2(CHE)/2026. The hearing was conducted through video conference before a bench consisting of Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical).
Final Outcome
The learned counsel for Canara Bank submitted to the tribunal that the sale process of the asset in question has been completed. A sale certificate has been issued to the successful purchaser, and physical possession of the asset has been handed over. The tribunal noted these submissions and adjourned the hearing of both applications to 23 July 2026 for further proceedings.
Topics: Insolvency Proceedings, Banking Sector, NCLT