Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 06 July 2026
Case Overview
The hearing concerned Petition No. CP(IB)/45(CHE)/2026 filed by Kushal Finnovation Capital Pvt Ltd against Lawrencedale Agro Processing (India) Pvt Ltd under Section 7 Rule 4 of the Insolvency and Bankruptcy Code, 2016. The petition represents initiation of corporate insolvency resolution proceedings against the Corporate Debtor, Lawrencedale Agro Processing.
During the hearing held via video conference, Mr. Thomas Xavier, director of the Corporate Debtor, appeared in person while Mr. Sasha Murray represented the petitioner as learned counsel. The respondent (Corporate Debtor) sought an additional two weeks to file their reply, citing that the company had changed its legal counsel.
Final Outcome
The bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical) granted the requested extension. The Corporate Debtor must file its reply within two weeks from 06 July 2026, failing which the reply will not be accepted and the matter will proceed for arguments. The petitioner may file a rejoinder within one week after receiving the reply. The petition has been adjourned and listed for next hearing on 04 August 2026.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt