Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 15, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an interlocutory application in the ongoing liquidation proceedings between Syndicate Bank (Applicant) and Vijay Spinners Pvt Ltd. The matter pertains to main petition CP(IB)/988(CHE)/2018, with the specific application being IA(IBC)/796(CHE)/2026. The hearing was conducted through video conferencing before a bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical).
Representation included Ms. Samruthi for the applicant/erstwhile liquidator, Ms. Santhiya for Respondent 1 (Canara Bank), and Ms. Faizun Nisha for Respondent 2 (present liquidator). Both respondents had filed their replies electronically, which the registry was directed to accept in hard copy format.
Final Outcome
The Tribunal adjourned the hearing to July 27, 2026, and granted two weeks for the filing of any rejoinder. The matter remains pending without a substantive decision on this hearing date.
Topics: Insolvency Proceedings, Banking Litigation, NCLT Hearing