Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: 30 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to the insolvency proceedings between Piramal Capital & Housing Finance Ltd. (financial creditor) and Seastar Realtos Pvt. Ltd. (corporate debtor). The hearing involved the main insolvency petition numbered CP(IBC)/128/CHE/2022 and two interim applications numbered IA(DIS)/38/CHE/2025 and IA(IBC)/1861(CHE)2025. The bench comprised Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical). During the hearing conducted via video conferencing, Shri. NP Vijay Kumar represented the Liquidator while Shri. Pawan Jhabakh represented 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 bench granted the adjournment and listed the applications for next hearing on 9 July 2026. The matter remains pending before the tribunal without any substantive decision on the merits of the case at this hearing.
Topics: Insolvency Proceedings, Corporate Debt, Legal Adjournment