Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: June 10, 2026
Case Overview
The hearing concerned Company Petition No. CP(CAA)/23(CHE)/2026 filed by KBFP Pvt Ltd under Sections 230-232 of the Companies Act, 2013, which typically relate to schemes of arrangement, compromise, or reconstruction. The matter was heard by a bench comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam. Counsel representing various parties were present: Pawan Jhabakh for the petitioner (KBFP Pvt Ltd), Rajkumar Jhabakh for the Income Tax Department, and Avinash Krishnan Ravi for the Resolution Director (RD).
Final Outcome
The Tribunal granted the Resolution Director's request for a two-week extension to file a reply, noting that a response from the Registrar of Companies (RoC) had been received. The Income Tax Department had previously filed a report on the matter (SR.No.2100 dated May 13, 2026). The petition was adjourned and listed for its next hearing on July 22, 2026.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Scheme