Authority: National Company Law Tribunal, Division Bench, Court-II Chennai
Order Date: June 9, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Bench, comprising Member (Judicial) Shri. Jyoti Kumar Tripathi and Member (Technical) Shri. Ravichandran Ramasamy, heard Application Number IA(IBC)/1720(CHE)2023. This application was filed within the main petition C.P.(IB)/706(CHE)2020, which involves Poonam Enterprises Pvt Ltd & Others as petitioners. The application was filed by Di Max Resolution Pvt Ltd (in the capacity of Resolution Professional of Maan Sarovar Properties Development) under Section 60(5)(A) of the Insolvency and Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016. Counsels for all parties were present: Mr. Ravi Rajagopalan for the applicant, Mr. Akhil Akbar Ali for the respondent(s), and Mr. F. Raymond Albyness for the liquidator.
Final Outcome
The bench did not rule on the merits of the application and instead adjourned the matter. The application was listed for a subsequent physical hearing on July 7, 2026. The order was signed by both members of the bench.
Topics: Insolvency Proceeding, NCLT Hearing, Case Adjournment