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, heard two interlocutory applications in the ongoing insolvency petition filed by Reliance Commercial Finance Ltd against Hamsini Foundations Pvt Ltd. The main petition (C.P. (IB)/1361(CHE)2018) was filed under Section 7 Rule 4 of the Insolvency and Bankruptcy Code, 2016. The two applications heard were:
1. IA(I.B.C)/861(CHE)2026: Filed under Rule 11 of NCLT Rules, 2016, by applicants versus Mr. P Ragu
2. IA(I.B.C)/869(CHE)2026: Filed under Section 60(5) of IBC, 2016 read with Rule 11 of NCLT Rules, 2016, by Tatia Developer Private Limited & others versus M. Hemalatha
The hearing was conducted through video conferencing with the bench comprising Hon'ble Member (Judicial) Shri. Jyoti Kumar Tripathi and Hon'ble Member (Technical) Shri. Ravichandran Ramasamy. Learned Counsel Mr. C.J. Sathish Kumar represented the applicant.
Final Outcome
The tribunal issued procedural directions: (1) The applicant is directed to serve copies of the applications on the respondents and file an affidavit of service; (2) Respondents are given two weeks to file their replies; (3) Any rejoinder by the applicant must be filed within one week after the reply period. The matter has been adjourned and listed for next hearing on July 17, 2026.
Topics: Insolvency Proceedings, NCLT Hearing, Corporate Debt