Authority: National Company Law Tribunal Division Bench (Court-I) Chennai

Order Date: June 12, 2026

Case Overview

The National Company Law Tribunal (NCLT) Chennai heard multiple interlocutory applications related to the corporate insolvency resolution process of Cema Electric Lighting Products India Pvt Ltd (Main Petition Number: CP/IB/173/CHE/2023). The bench comprised Hon'ble Shri Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical). Various parties were represented including the Resolution Professional (RP), Overdrive Electronics Pvt Ltd (operational creditor), suspended directors of Cema Electric, workmen, Income Tax Department, and Nawab Infrastructure.

The applications covered several matters including reconciliation of transactions, claims admission, refund issues, and procedural matters related to the insolvency process. The RP sought time to reconcile transactions based on replies filed by suspended directors in three applications (IA(IBC)/221/CHE/2026, IA(IBC)/214/CHE/2026, and IA(IBC)/175/CHE/2026). In another application, the RP confirmed receiving a refund from the Income Tax Department and withdrew the application.

Final Outcome

The Tribunal adjourned all pending applications to July 31, 2026 for physical hearing. Specifically:

  • IA(IBC)(LIQ)/21(CHE)2025: Listed for hearing on July 31, 2026
  • IA(IBC)/733/CHE/2026: Reply filed, rejoinder if any to be filed within two weeks, listed for July 31, 2026
  • IA(IBC)/750/CHE/2026: Disposed of as withdrawn after RP confirmed receipt of refund from Income Tax Department
  • IA(IBC)/221/CHE/2026, IA(IBC)/214/CHE/2026, IA(IBC)/175/CHE/2026: RP granted three weeks to reconcile transactions, listed for July 31, 2026
  • IA(IBC)/245/CHE/2026: Reply filed by R2, rejoinder filed by workmen, listed for July 31, 2026
  • IA(IBC)1336/CHE/2025: Reply not filed by RP despite time granted, listed for July 31, 2026
  • IA(IBC)/1174/CHE/2025: RP confirmed all employee claims have been admitted, listed for July 31, 2026
  • IA(IBC)/586(CHE)/2025 and IVN.P(IBC)/8/CHE/2025: Pleadings complete, listed for July 31, 2026

The practical consequence is that all substantive matters in the insolvency proceedings remain pending and will be addressed in the next hearing scheduled for July 31, 2026.

Topics: Corporate Insolvency, NCLT Proceedings, Creditor Claims