Authority: National Company Law Tribunal, Division Bench - Court II, Chennai
Order Date: July 6, 2026
Case Overview
The hearing concerned Petition Number CP(IB)/24(CHE)2026 filed by Large Logic Pvt Ltd under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. Section 10 allows a corporate debtor to initiate insolvency proceedings against itself. Multiple financial creditors appeared through counsel, including Protium Finance, HDFC Bank, and Poonawalla Fincorp. Respondent R24 was also represented. The primary purpose of the hearing was to address the filing of replies by the various respondents to the petition.
Final Outcome
The bench, comprising Member (Judicial) Shri. Jyoti Kumar Tripathi and Member (Technical) Shri. Ravichandran Ramasamy, adjourned the matter. Counsel for HDFC Bank sought and was granted a final one-week extension to file their reply. Counsel for respondent R24 stated they would e-file their reply on the same day (July 6) and was permitted to submit a physical copy. Counsel for Poonawalla Fincorp was directed to file their reply within one week. A copy of the application was ordered to be served on counsel for Protium Finance. The petition is now listed for its next hearing on July 30, 2026.
Topics: Insolvency, NCLT, Corporate Debtor