Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: 30 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Division Bench-I heard matters related to Piramal Capital & Housing Finance Ltd. versus Selva Developers Pvt. Ltd. The main petition CP(IBC)/127/CHE/2022 is an insolvency proceeding under the Insolvency and Bankruptcy Code. Additional interim applications IA(DIS)/35/CHE/2025 and IA(IBC)/1862(CHE)2025 were also before the tribunal. The hearing was conducted through video conferencing before Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical).
During the hearing, Shri. NP Vijay Kumar represented the Liquidator, while Shri. Pawan Jhabakh represented the erstwhile promoter. However, 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 application for next hearing on July 9, 2026. The matter remains pending without any substantive decision on the merits of the case at this stage.
Topics: Insolvency Proceeding, Corporate Litigation, Hearing Adjournment