Authority: National Company Law Tribunal (NCLT), Division Bench–I, Chennai
Order Date: 14 July 2026
Case Overview
This matter pertains to an insolvency petition, CP(IBC)/235(CHE)/2025, filed by V A Jayachandran (Petitioner) against Canara Bank (Respondent). Two interlocutory applications, Rst.A (IBC)/1(CHE)/2026 and IA(IBC)/715(CHE)/2026, were also being heard. During the hearing, the learned counsel for the petitioner, Shri. Tulesh Balaji, submitted that the petitioner could not arrange a sum of money as had been recorded in a previous order dated 09 July 2026. The nature of this sum or the specifics of the prior order are not detailed in this excerpt. The bench, comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical), considered this submission.
Final Outcome
The Tribunal directed that the Respondent, Canara Bank, may proceed with an auction. The exact asset or property to be auctioned is not specified in the provided text. The matter, specifically the application, is listed for the next hearing on 23 July 2026.
Topics: Insolvency, Banking, NCLT