Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 16, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard petition CP(CA)/7(CHE)/2025 filed by petitioner S Permal against respondent Manikandan Residencies Development Pvt Ltd. The petition was filed under Sections 213, 241(1), and 244 of the Companies Act, 2013, which pertain to investigations into company affairs and oppression and mismanagement of a company. Counsel Ms. Madhuvandhi represented the petitioner, while Counsel Shri. Peruman Saranyan represented the respondents. During the hearing, the petitioner's counsel informed the tribunal that settlement talks are ongoing between the parties, with a meeting scheduled for June 20, 2026.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri. Sanjiv Jain and Member (Technical) Shri. Venkataraman Subramaniam recorded the submission regarding ongoing settlement talks. The petition has been adjourned and listed for next hearing on August 12, 2026, for reporting of settlement if achieved, or for further hearing on the merits of the case.
Topics: NCLT Proceedings, Shareholder Dispute, Settlement Talks