Authority: National Company Law Tribunal, Division Bench–I, Chennai
Order Date: 30 June 2026
Case Overview
This common order addresses two Interlocutory Applications (IAs) filed in the main corporate insolvency resolution process against Sabari Realtors Pvt. Ltd. (CP(IB)/471(CHE)/2019). The main petition was filed by Rakesh P Seth. The applications in question were IA(IBC)/1076(CHE)/2026 and IA(IBC)/1014(CHE)/2026. IA/1076 was filed by the Chairman of the Monitoring Committee to take on record a status report regarding the implementation of the resolution plan by the Successful Resolution Applicant (SRA). A separate application (IA/1014) was moved seeking condonation of a 5-day delay in filing this progress report.
Final Outcome
The bench, comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam, condoned the 5-day delay in filing the progress report. The status report filed by the Monitoring Committee was taken on record. Both applications (IA/1076 and IA/1014) were disposed of.
Topics: Insolvency, Legal Proceedings