Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: June 30, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to the insolvency petition filed by Piramal Capital & Housing Finance Ltd. against Porposie Realtors Pvt. Ltd. The main petition bears number CP(IBC)/123/CHE/2022. Additional applications being heard include IA(DIS)/37/CHE/2025 and IA(IBC)/1860(CHE)2025. The hearing was conducted through video conferencing before a bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical).
Shri. NP Vijay Kumar, learned counsel representing the Liquidator, and Shri. Pawan Jhabakh, learned counsel representing the erstwhile promoter, were present during the hearing. However, the arguing counsel for the erstwhile promoter was stated to be unavailable, leading to a request for an adjournment.
Final Outcome
The NCLT bench granted the adjournment and listed the application for the next hearing on July 9, 2026. The order was signed by both members of the bench. No substantive decisions on the merits of the insolvency case were made during this hearing.
Topics: Insolvency Proceeding, Court Adjournment, Real Estate Finance