Authority: National Company Law Tribunal, Division Bench-I, Chennai
Order Date: 29 June 2026
Case Overview
The hearing concerned an application (IA(IBC)/1033/CHE/2026) filed in the main petition CP(IBC)/215/CHE/2023 involving R K K R Steels Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) commenced on 21 November 2025. The initial 180-day period expired on 19 May 2026. The Interim Resolution Professional (IRP) represented by counsel Shri Ravi Rajagopalan appeared before the bench comprising Member (Judicial) Sanjiv Jain and Member (Technical) Venkataraman Subramaniam. The IRP reported that resolution plans from potential applicants were currently under consideration by the Committee of Creditors (CoC).
Final Outcome
The Tribunal approved the extension of the CIRP timeline until 16 August 2026. This decision was based on the submission that the resolution process was likely to be completed within the extended 270-day period and was supported by a resolution passed with 100% voting share during the 4th CoC meeting held on 21 April 2026, where creditors unanimously approved seeking the extension. The application was disposed of accordingly.
Topics: Insolvency Proceeding, Timeline Extension, Committee of Creditors