Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard two interconnected applications (IA/IBC/1856(CHE)/2025 and IA/IBC/1686(CHE)/2025) within the main insolvency petition CP(IBC)/157(CHE)/2024. The case involves Unity Small Finance Bank Ltd. as the petitioner against Lakhari Resources Pvt. Ltd. as the corporate debtor. The applications were filed by the Resolution Professional (RP) seeking enforcement of tribunal orders.
During the hearing, the Resolution Professional's counsel, Shri. Varun Srinivasan, reported that warrants issued against the respondents (R1, R2, and R3) had been handed over to the police authorities, but the execution process was still ongoing. He specifically noted that despite previous orders, the respondents had failed to provide the required information or hand over necessary documents to the Resolution Professional.
Representation included Shri. Akaashbalagee appearing for respondents R1, R2, and R3, and Shri. Monish representing HDFC Bank Ltd. as an officer of the bank. During the proceedings, Shri. A.G. Sathyanarayana also appeared for respondent R6.
The bench consisting of Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical) considered the submissions regarding the ongoing warrant execution process.
Final Outcome
The NCLT adjourned both applications and listed them for next hearing on July 23, 2026, specifically for submitting an Action Taken Report on the execution of warrants and compliance with the tribunal's directions. The matter remains pending with no final resolution at this stage.
Topics: Insolvency Proceedings, Warrant Execution, Corporate Debtor