Authority: National Company Law Tribunal Special Bench, Court – II Chennai
Order Date: 14 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Bench heard three interlocutory applications (IAs) in the ongoing liquidation proceedings of M/s. Nathella Sampath Jewelry Pvt Ltd (Corporate Debtor). The main petition CP/129/IB/2018 was filed under Section 10(1) Rule 7 of the Insolvency and Bankruptcy Code, 2016. The applications involve the Liquidator, R. Raghavendran, pursuing claims against various respondents for alleged fraudulent trading and transactions.
The three applications are:
1. IA(IBC)/966(CHE)2021: Filed under Sections 43 & 66 of IBC, 2016 by Liquidator R. Raghavendran of M/s. Nathella Sampath Jewelry Pvt Ltd against Neem Tree Enterprises & 4 Others
2. IA(IBC)/557(CHE)/2021: Filed under Sections 43, 45, 50, 66, 70, 71, 72, 73 of IBC, 2016 by R. Raghavendran against Nathella Ranganathan Guptha & Others
3. IA(IBC)/957(CHE)2021: Filed under Sections 43 & 66 of IBC, 2016 by Liquidator R. Raghavendran of M/s. Nathella Sampath Jewelry Pvt Ltd against Ravi Shankar Mangipudy & 3 Others
Representation at the hearing included Mr. Ramswamy Meyappan for the Liquidator in IAs 966 and 957, Mr. Tharun Pranav for the Applicant in IA 557, and Ms. Pearl Majithia representing various respondents across all applications. Some respondents were not represented.
Final Outcome
The Special Bench comprising Shri. Sanjiv Jain (Member Judicial) and Shri. Ravichandran Ramasamy (Member Technical) issued a common order adjourning all three applications. The matters have been listed for hearing on 17 August 2026 before the Regular Bench. No substantive decisions were made in this hearing.
Topics: Insolvency Proceedings, Fraudulent Trading, NCLT Adjournment