Authority: National Company Law Tribunal, Division Bench (Court–I) Chennai
Order Date: 09.06.2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard petition TCP/7/2016 filed by Kuberan N & 3 Others against Srivari Mutual Benefit Finance Ltd & 7 others under Section 634A of the Companies Act. The petitioners were represented by counsel Mr. Niranjan S Rao, while no representation appeared for the respondents. During the hearing, the petitioners' counsel submitted that the parties involved in this petition are identical to those in another matter, TP(CA)/5/CHE/2016. He further stated that once the matter in TP(CA)/5/CHE/2016 is settled, the parties intend to settle the issues in the present petition (TCP/7/2016).
Final Outcome
The bench, comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical), recorded these submissions and adjourned the matter. The petition has been listed for the next hearing on 04.08.2026 specifically for reporting settlement or for further hearing if the settlement is not achieved by then.
Topics: NCLT Proceeding, Corporate Legal Dispute, Settlement Negotiation