Authority: National Company Law Tribunal, Division Bench - II, Chennai
Order Date: 09 June 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai Bench heard multiple interlocutory applications connected to the main insolvency petition (IBA/1099/2019) filed by M/s Sarens Heavy Lift India Pvt Ltd against M/s Regen Powertech Pvt Ltd. The proceedings involve 13 separate applications filed by various creditors and stakeholders against the Corporate Debtor, Regen Powertech Pvt Ltd, and its Resolution Professionals (Renuka Devi Rangaswamy and Ebenezar Inbaraj).
The applications were primarily filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, with some also invoking Rule 11 of the NCLT Rules, 2016. The key applicants include:
- State Bank of India (filing multiple applications)
- GAIL India Ltd (filing multiple applications)
- L&T Infra Investment Partners
- Prudent ARC Ltd
- Echanda Urja Pvt Ltd
- The Committee of Creditors
The matter represents a complex insolvency proceeding with multiple stakeholders seeking resolution of their claims against Regen Powertech Pvt Ltd, which is undergoing corporate insolvency resolution process.
Final Outcome
The NCLT Chennai Bench adjourned all 13 applications after noting that the matter is currently pending before the National Company Law Appellate Tribunal (NCLAT). The bench explicitly stated "Matter is pending for Hon'ble NCLAT. Order is awaited" for all applications. All matters have been listed for next hearing on 03 August 2026, awaiting orders from the appellate tribunal.
Topics: Corporate Insolvency, NCLT Proceedings, Creditor Claims