Authority: National Company Law Tribunal, Division Bench, Court-II Chennai
Order Date: July 13, 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai Bench heard an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The matter involves CA Mahalingam Suresh Kumar, the Resolution Professional of M/s. Real Value Promoters Private Limited, as the applicant and M/s. HS Syndicate as the respondent. The application bears diary number IA(I.B.C)/1160(CHE)2026 and is connected to main company petition CP/IB/577/2020. Only the applicant's counsel, Mr. A.G. Sthyanarayana, was present during the hearing conducted via video conferencing at 10:30 AM.
Final Outcome
The bench comprising Shri Jyoti Kumar Tripathi (Member Judicial) and Shri Ravichandran Ramasamy (Member Technical) issued procedural directions. The applicant was directed to serve a copy of the application on the respondent and file an affidavit of service. The respondent was given two weeks to file their reply to the application. The applicant may file a rejoinder, if any, within one week after receiving the reply. The matter has been adjourned and listed for next hearing on August 27, 2026.
Topics: Insolvency Proceedings, NCLT Hearing