NCLT Chennai hears insolvency petition filed by Mukanchand Bothra against GR Balaji Silks Pvt Ltd over a ₹1.9 crore debt.
Tribunal notes the debt includes a ₹30 lakh cash transaction and lacks a formal loan agreement, raising potential income tax violations.
Petitioner directed to produce audited books and income tax filings within two weeks to prove transaction genuineness.
Case adjourned for further hearing on 09 June 2026 pending submission of required financial documentation.