Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: July 6, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard interim application IA(IBC)/159/CHE/2021, which is connected to the main petition CP/1011/IB/2018 involving Global Infra versus AKR Holdings Pvt Ltd. The matter pertains to liquidation proceedings under the Insolvency and Bankruptcy Code. The hearing was conducted through video conference before a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical).
Representation included Mr. B. Ramana Kumar (counsel for the Liquidator) along with the Liquidator, Ms. Varsha Jain (counsel for the Respondents), and Mr. Rahman Khan (Respondent 2) appearing in person.
The Tribunal noted that despite granted time, Respondent 1 (R1) had not filed their reply and consequently closed R1's right to file a reply. The right of Respondent 2 (R2) to file a reply was also closed. The order recorded that Respondent 3 (R3) has passed away. Despite service of notice, there was no representation on behalf of Respondents 4 and 5 (R4 and R5).
Arguments on the application were partly heard by the bench.
Final Outcome
The NCLT adjourned the matter and listed the application for further arguments on July 23, 2026, specifying that the next hearing will be a physical hearing. No substantive decision on the merits of the application was rendered in this order.
Topics: NCLT Proceeding, Corporate Insolvency, Liquidation