Authority: National Company Law Tribunal, Division Bench (Court-I) Chennai
Order Date: 17 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard petition CP/IB/35/CHE/2025 filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was filed by operational creditor Enviro Metals Recyclers Pvt Ltd against corporate debtor Zetek Castings Pvt Ltd. The hearing was conducted through video conference with both parties represented by counsel. The key issue concerned the completion of an audit for the period 2022-2023, which was delayed due to unavailability of tally data. The Administrator appointed by the tribunal had engaged an auditor who could not complete the audit without access to the company's financial records.
Final Outcome
The tribunal issued two primary directives: (1) Respondent R2 Mr. R.E. Chandrasekar was ordered to immediately provide the tally data to the appointed auditor, who was directed to complete the audit within one month; (2) Mr. V. Shreekumar, who was appointed to assist the Administrator, was discharged from his assignment due to personal inconvenience, with liberty granted to the Administrator to appoint replacement legal assistance on same terms. The Administrator indicated that upon audit completion, the company would settle any outstanding dues payable to the operational creditor. The matter was listed for next hearing on 10 August 2026.
Topics: Insolvency Proceedings, Corporate Audit, Operational Debt