Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 09 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai Division Bench, comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical), heard arguments in petition number CP(IB)/191(CHE)/2024. This is an insolvency petition filed under Section 9, Rule 6 of the Insolvency and Bankruptcy Code, 2016 (IBC) by operational creditor Arpith Jain against corporate debtor Tharun Tex Spin Mills Pvt Ltd. The hearing was conducted through video conference. Both parties were represented by legal counsel - Ms. Menaka for the petitioner (Arpith Jain) and Mr. Krishna Dath for the respondent (Tharun Tex Spin Mills Pvt Ltd). During the hearing, arguments were presented, a synopsis was filed, and clarifications were sought by the bench.
Final Outcome
The Division Bench reserved its order following the completion of arguments and clarifications. The final decision on whether to admit or reject the Section 9 insolvency application against Tharun Tex Spin Mills Pvt Ltd remains pending. The tribunal will issue its written order at a future date.
Topics: Insolvency Proceedings, NCLT Hearing, Operational Debt