Authority: National Company Law Tribunal, Division Bench - Court II, Chennai
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to insolvency proceedings against Mrs. Saroja Ramsubbaraj as personal guarantor to State Bank of India. The proceedings are registered as C.P. (IB)/329(CHE)2025 under Section 94(1) of the Insolvency and Bankruptcy Code, 2016. Two interlocutory applications were heard during the session presided over by Member (Judicial) Shri. Jyoti Kumar Tripathi and Member (Technical) Shri. Ravichandran Ramasamy.
Application IA(I.B.C)/341(CHE)2026, filed under Section 99 of IBC, 2016, was simply listed for next hearing on 16 July 2026.
Application IA(I.B.C)/714(CHE)2026, filed under Rule 11 of NCLT Rules, 2016 read with Sections 60(2) to 60(4) and Section 179(2)(c) of IBC, 2016, involved a property buyer seeking permission to carry out registration of land related to the insolvency estate. The tribunal permitted filing of a physical copy of the report from the Interim Resolution Professional (IRP), Ms. Rajalakshmi Varadarajan. Counsel for Aditya Birla appeared in the matter, and respondents were directed to file their reply within one week, with physical copies permitted.
Final Outcome
Both the main petition (C.P. (IB)/329(CHE)2025) and the applications were adjourned to 16 July 2026 for further hearing. The tribunal maintained the status quo while allowing procedural filings to continue.
Topics: Insolvency Proceedings, Personal Guarantor, NCLT Hearing