Authority: National Company Law Tribunal, Division Bench–I, Chennai
Order Date: 22 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard an application (IA(IBC)/984/(CHE)/2026) filed in the matter of The Karur Vysya Bank Ltd. versus Anandan Balusamy (Main Petition CP(IBC)/28(CHE)/2026). The application sought to place on record a report concerning the constitution of the Committee of Creditors (CoC) for conducting bankruptcy proceedings against Anandan Balusamy. The hearing was conducted through video conferencing with Bankruptcy Trustee Shri P. Balasubramanian appearing in person.
Final Outcome
The NCLT bench comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam admitted the report regarding the constitution of the CoC subject to all just exceptions. The application (IA) was subsequently disposed of.
Topics: Insolvency Proceedings, Committee of Creditors, Banking