Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 16 July 2026
Case Overview
The matter involves an insolvency petition (CP(IBC)/119/CHE/2024) filed by Map Chem Pvt Ltd against Allites Life Science Pvt Ltd. The hearing was conducted through video conference before a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). Representing the parties were Mr. Arvind Rajagopal with Mr. Ashwath for the applicant (Map Chem Pvt Ltd) and Learned Senior Counsel Mr. S. Ravi with Mr. Harish Parvatham for the respondent (Allites Life Science Pvt Ltd). Arguments on the petition were partly heard, with the applicant's counsel referring to two judgments in support of their arguments.
Final Outcome
The Tribunal adjourned the matter and listed both the main petition and application (IA(I.B.C)/1168(CHE)2026) for further arguments on 10 August 2026. The bench specifically directed that the next hearing will be conducted physically and required both parties to appear in person.
Topics: Insolvency Proceeding, NCLT Hearing, Corporate Dispute