Authority: National Company Law Tribunal, Division Bench - II, Chennai
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Bench heard a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor, Metals and Metal Electric Pvt Ltd, had filed an insolvency petition (CP(IB)/100(CHE)2022) against the corporate debtor, Prince Foundations Ltd. The matter had previously been appealed to the National Company Law Appellate Tribunal (NCLAT), which remitted the case back to NCLT for fresh adjudication. Both parties were represented by legal counsel during the hearing.
Final Outcome
The NCLT adjourned the petition to July 24, 2026, and directed the filing of a memo along with the NCLAT order. The bench comprised Hon'ble Member (Judicial) Shri. Jyoti Kumar Tripathi and Hon'ble Member (Technical) Shri. Ravichandran Ramasamy.
Topics: Insolvency Proceeding, NCLT Adjournment, Corporate Debtor