Authority: National Company Law Tribunal, Division Bench - II, Chennai
Order Date: 06 July 2026
Case Overview
The National Company Law Tribunal (NCLT), Chennai Bench - II, heard an application filed by Canara Bank under Section 95(1) of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition, numbered C.P. (IB)/134(CHE)2026, names R Parvatham as the respondent. The bench comprised Hon'ble Member (Judicial) Shri. Jyoti Kumar Tripathi and Hon'ble Member (Technical) Shri. Ravichandran Ramasamy. During the hearing held via video conferencing at 10:30 AM, Mr. Arjun Makuny appeared as counsel for the applicant Canara Bank.
Final Outcome
The Tribunal issued procedural directions: (1) Counsel for Canara Bank must serve a copy of the petition on the respondent R Parvatham and file an affidavit of service; (2) The respondent is granted two weeks to file a reply, with a copy to be served on the petitioner; (3) The petitioner may file a rejoinder, if any, within one week after receiving the reply; (4) The matter is listed for next hearing on 18 August 2026.
Topics: Insolvency Proceeding, Banking Sector, NCLT Directions