Authority: National Company Law Tribunal, Division Bench - Court II, Chennai
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai Bench heard matter C.P. (IB)/100(CHE)2026 through video conferencing. The petition was filed by R Ranganatha (Petitioner) against Axis Bank Ltd (Respondent) under Section 94(1) of the Insolvency and Bankruptcy Code, 2016. Section 94 deals with applications for initiation of the insolvency resolution process for individuals and partnership firms. The hearing was presided over by a bench comprising Shri. Jyoti Kumar Tripathi (Hon'ble Member - Judicial) and Shri. Ravichandran Ramasamy (Hon'ble Member - Technical).
Final Outcome
The petition was adjourned and listed for next hearing on 24 July 2026. The primary reason for adjournment was the absence of the petitioner (R Ranganatha) during the hearing. No substantive proceedings or arguments took place due to this absence. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, Banking Dispute