Authority: National Company Law Tribunal, Division Bench (Court–I) Chennai
Order Date: 17 June 2026
Case Overview
The matter involves a petition filed by K Venkateswaran (Director) against M/s Zetek Castings Pvt Ltd, with main petition number CP/157(CHE)/2022 and two interlocutory applications IA(CA)/87(CHE)/2025 and IA(CA)/139/(CHE)/2025. 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. P.H.Arvindh Pandian (Senior Counsel) for the petitioner, Mr. A.M.Sridharan for the respondent company, and Mr. T.Ravichandran for the Administrator, who was also present via video conference.
The key issue addressed was the Administrator's submission that the erstwhile Administrator had appointed an Auditor who could not complete the audit for the period 2022-2023 due to unavailability of tally data. The tribunal also considered a request from Mr. V.Shreekumar, who was appointed to assist the Administrator, seeking discharge from his assignment citing personal inconvenience.
Final Outcome
The tribunal directed Respondent R2 Mr. R.E.Chandrasekar to immediately provide the tally data to the Auditor, who is directed to complete the audit within one month. The Administrator indicated that after audit completion, the company would settle any dues payable to the Operational Creditor.
Mr. V.Shreekumar was discharged from his assignment assisting the Administrator, and liberty was granted to the Administrator to appoint any legal person for assistance on the same terms and conditions. The petition and applications were adjourned to 10 August 2026 for further hearing.
Topics: Corporate Insolvency, Audit Compliance, NCLT Proceedings