Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: June 30, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Division Bench-I heard matters related to Corporate Insolvency Petition CP(IBC)/121/CHE/2022 filed by Piramal Capital & Housing Finance Ltd against Navigator Developers Pvt. Ltd. The hearing also included consideration of Interlocutory Application/Miscellaneous Application IA(IBC)(DIS)/55(CHE)2025. The bench was composed of Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical). During the hearing, Shri. NP Vijay Kumar appeared as learned counsel for the Liquidator, while Shri. Pawan Jhabakh appeared as learned counsel for the erstwhile promoter. The arguing counsel for the erstwhile promoter was stated to be unavailable, leading to a request for adjournment.
Final Outcome
The NCLT granted the adjournment and listed the application for next hearing on July 9, 2026. The order was signed by both members of the bench.
Topics: Insolvency Proceedings, Real Estate Finance, NCLT Adjournment