Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 12 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical), heard an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition, registered as CP(IBC)/119/CHE/2024, was filed by operational creditor Map Chem Pvt Ltd against corporate debtor Allites Life Science Pvt Ltd. The matter was listed for hearing on 12.06.2026 via video conference. During the hearing, the petitioner was represented by Learned Counsel Mr. Krishna Dath. The corporate debtor, Allites Life Science Pvt Ltd, was represented by its director, Mr. Muthukrishnan, along with its newly appointed Learned Counsel, Mr. Harish Parvatham, who informed the bench that he had filed his vakalath (power of attorney).
Final Outcome
The NCLT bench granted an adjournment of two weeks to the respondent (Allites Life Science Pvt Ltd) to prepare and present its arguments in the case. This adjournment was granted on the specific condition that the corporate debtor pays a cost of ₹50,000 (Indian Rupees Fifty Thousand) to the "Prime Minister National Relief Fund" before the next date of hearing. The petition was subsequently listed for arguments on 14 July 2026.
Topics: Insolvency Proceeding, NCLT Hearing, Operational Debt