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 multiple interlocutory applications related to the ongoing insolvency proceedings of Real Value Promoters Private Limited. The main petition CP(IB)/577(CHE)2020 was filed under Section 9 Rule 6 of the Insolvency and Bankruptcy Code, 2016 by P.Manickam & Co against Real Value Promoters Pvt Ltd.
Four specific applications were listed for hearing:
1. CONT.P.(IBC)/3(CHE)2026 - Contempt petition under Section 425 of Companies Act, 2013 read with Rule 11 of NCLT Rules, 2016 filed by Mr. Mahalingam Suresh Kumar (Resolution Professional of Real Value Promoters) against Tamil Nadu Discharged Prisoners Aid Society
2. IA(IBC)/1400(CHE)2025 - Application under Section 60(5) of IBC, 2016 read with Rule 11 of NCLT Rules, 2016 filed by CA. Mahalingam Suresh Kumar (RP) against Tamil Nadu Discharged Prisoners Aid Society represented by its Director and Treasurer S. Gnaneswaran
3. IA(IBC)/1512(CHE)2025 - Application under Section 60(5) of IBC, 2016 read with Rule 11 of NCLT Rules, 2016 filed by Tamil Nadu Discharged Prisoners Aid Society against Mahalingam Suresh Kumar (RP) and Another
4. IA(IBC)/1562(CHE)2025 - Execution application under Section 60(5) of IBC, 2016 read with Rule 11 of NCLT Rules, 2016 filed by CA. Mahalingam Suresh Kumar (RP) against Tamil Nadu Discharged Prisoners Aid Society represented by S. Gnaneswaran
The hearing was conducted through video conferencing before a bench comprising Hon'ble Member (Judicial) Shri. Jyoti Kumar Tripathi and Hon'ble Member (Technical) Shri. Ravichandran Ramasamy.
Final Outcome
The counsel for Tamil Nadu Discharged Prisoners Aid Society, Mr. Mayan H Jain, sought an adjournment during the hearing. The Resolution Professional CA. Mahalingam Suresh Kumar was represented by counsels Mr.T.K.Bhaskar and Mr.A.G.Sathyanarayana. The bench explicitly stated that no further time would be granted and listed all matters for next hearing on 20 July 2026.
Topics: Insolvency Proceedings, NCLT Adjournment