Authority: National Company Law Tribunal (NCLT), Division Bench–I, Chennai
Order Date: June 22, 2026
Case Overview
This order pertains to an Interlocutory Application (IA) numbered IA(IBC)/985/(CHE)/2026, filed within the main insolvency petition CP(IBC)/84(CHE)/2026. The petition was initiated by The Karur Vysya Bank Ltd. against Shanthi Mohan. The application was filed by the Bankruptcy Trustee, Shri. P. Balasubramanian, who was present in person for the hearing conducted via video conferencing. The purpose of the application was to formally take on record the report detailing the constitution of the Committee of Creditors (CoC) for conducting the bankruptcy proceedings against the corporate debtor, Shanthi Mohan.
Final Outcome
The NCLT bench, comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical), disposed of the application. The tribunal allowed the report to be taken on record, subject to all just exceptions. This procedural step formally acknowledges the constitution of the CoC, allowing the insolvency process to proceed to the next stages as per the Insolvency and Bankruptcy Code, 2016.
Topics: Insolvency, Banking