Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matter CP(IBC)/216/CHE/2025, which involves Indian Bank as the petitioner seeking initiation of insolvency proceedings against individual respondent Poorani Nagarajan under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The hearing was conducted through video conference before a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical).
During the hearing, the learned counsel for the petitioner (Mr. Adarsh) submitted that documents had been e-filed. The respondent was represented by learned counsel Ms. Pushpitha. The tribunal noted that the arguing counsel for the petitioner was not available for the hearing session.
Final Outcome
The NCLT directed the registry to accept hard copies of the documents and, at the request of parties, adjourned the matter. The petition has been listed for arguments on the next hearing date of August 10, 2026. No substantive decisions on the merits of the insolvency petition were made during this hearing.
Topics: Insolvency Proceedings, Banking Litigation