Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 15 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an application (IA(IBC)/948(CHE)/2026) filed in the matter of M Shanmugam versus Tamilnad Mercantile Bank Ltd (Main Petition CP(IB)/27(CHE)/2024). The application sought to implead Tamilnad Mercantile Bank Ltd as the second respondent in another pending application, I.A. (IBC)/625(CHE)/2026. The hearing was conducted through video conferencing before a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). Learned Counsel Ms. Akshaya appeared for the applicant, while Learned Counsel Ms. Sahaya Sukuna appeared for Tamilnad Mercantile Bank (TMB).
Final Outcome
The Tribunal allowed the application for impleadment. Tamilnad Mercantile Bank Ltd was formally added as the second respondent in I.A. (IBC)/625(CHE)/2026. The Tribunal directed the filing of an amended application for IA/625/2026 and further directed that a copy of this amended application be served on the newly added Respondent No. 2 (Tamilnad Mercantile Bank Ltd) to enable them to file their response before the next date of hearing. Consequently, the current application (IA/948/2026) was disposed of. The main application, IA/625/2026, was listed for its next hearing on 13 July 2026.
Topics: NCLT Proceeding, Bank Impleadment, Legal Procedure