Authority: National Company Law Tribunal, Division Bench - II, Chennai
Order Date: July 6, 2026
Case Overview
The order pertains to an insolvency petition (CP(IB)/16(CHE)2024) filed by financial creditor EMKAY Financial Services against corporate debtor SVARYU Energy Ltd. The petition was filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The hearing was conducted via video conferencing. Counsel for the petitioner, Mr. Anand Jagmalani, and counsel for the respondent, Mr. Chiron Singhi, were present. The tribunal noted that the pleadings in the case are complete, but a rejoinder has not been filed by the petitioner. The petitioner specifically requested a physical hearing for the proceedings.
Final Outcome
The two-member bench, comprising Judicial Member Shri Jyoti Kumar Tripathi and Technical Member Shri Ravichandran Ramasamy, ordered the matter to be adjourned. The petition is now listed for a physical hearing on August 20, 2026. No substantive decision on the admission or dismissal of the insolvency petition was made in this order.
Topics: Insolvency Proceeding, NCLT, IBC