NCLT Chennai Accepts Karur Vysya Bank Insolvency Progress Report

Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai

Order Date: July 15, 2026

Case Overview

This order pertains to an interim application (IA(I.B.C)/1177(CHE)2026) filed within the main insolvency petition (C.P. (IB)/28(CHE)2026) of Karur Vysya Bank Ltd versus Anandan Balusamy. The application was filed by the Bankruptcy Trustee, Mr. Balasubramanian P, seeking to place on record the first progress report for the quarter ended June 30, 2026. The two-member bench, comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical), heard the matter via video conference.

Final Outcome

The tribunal allowed the application and took the submitted progress report on record, subject to all just exceptions. The application was disposed of accordingly.

Topics: Insolvency Proceeding, NCLT Order, Banking