Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 16 July 2026
Case Overview
This order pertains to petition number CP(IB)/199(CHE)/2023, filed by Prism Johnson Ltd (Petitioner) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016 against Ozone Projects Pvt Ltd (Respondent/Corporate Debtor). The hearing was conducted via video conference before a bench comprising Hon'ble Shri. Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical). Counsel for the parties were Mr. Hemanth for the petitioner and Ms. Vandhana Prabhu for the respondent. The Tribunal noted that in a separate petition, CP(IB)/49(CHE)/2023, it had already passed an order for initiating the Corporate Insolvency Resolution Process (CIRP) against Ozone Projects Pvt Ltd and an Interim Resolution Professional (IRP) had been appointed.
Final Outcome
The Tribunal closed the present petition (CP(IB)/199(CHE)/2023). Consequently, Prism Johnson Ltd was given liberty to file its claim with the already-appointed IRP in the main CIRP proceeding. A specific liberty was also granted to the petitioner to revive this closed petition if a matter is settled in the connected case (CP(IB)/49(CHE)/2023) but its claim from this petition remains unsettled. The file was consigned to records.
Topics: Insolvency Proceeding, NCLT Order