Authority: National Company Law Tribunal Division Bench (Court-I) Chennai
Order Date: 16 July 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard matters related to the Corporate Insolvency Resolution Process (CIRP) of Jayamm Milk Products Pvt Ltd. The proceedings involved Moomark Pvt Ltd as the petitioner against Jayamm Milk Products Pvt Ltd, with main petition number CP(IB)/41(CHE)/2025. Two interlocutory applications were heard: IA(IBC)/791(CHE)/2026 and IA(IBC)/1003/CHE/2026.
The hearing was attended by Ms. Saumya Seth, counsel for the Resolution Professional (RP), and Mr. Arjun Makuny, counsel for the Committee of Creditors (CoC). The counsel for the RP submitted that pursuant to an order dated 11 June 2026 in Contempt Application No. 8/2026, the Operational Creditor had cleared all outstanding dues owed to the RP. The records indicated that the RP had subsequently resigned from the position.
The Committee of Creditors filed an application proposing the appointment of a new Resolution Professional, specifically recommending Mr. CA Madurai Sundaram Sankar with Registration Number IBBI/IPA-001/IP-P-00770/2017-2018/11315.
Final Outcome
The NCLT allowed the CoC's application and formally appointed Mr. CA Madurai Sundaram Sankar as the new Resolution Professional to continue with the CIRP process of Jayamm Milk Products Pvt Ltd. The tribunal directed the erstwhile Resolution Professional to hand over all complete records to the newly appointed RP. Both applications IA(IBC)/791(CHE)/2026 and IA(IBC)/1003/CHE/2026 were disposed of with these observations.
Topics: Insolvency Proceedings, Regulatory Appointment