Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 09 June 2026
Case Overview
The application IA(IBC)/914(CHE)2026 was filed by the Liquidator of RA Ni Precast Pvt Ltd in the matter of Jaya Mangai Transport vs RA Ni Precast Pvt Ltd (Main Petition Number: CP(IBC)/1156/CHE/2018). The Liquidator, represented by counsel Mr. C.J. Sathish Kumar, sought an extension of the liquidation timeline for a period of three months from 01 June 2026. The counsel submitted that the liquidation process was substantially complete, with the only remaining activity being distribution to shareholders. An application specifically regarding this distribution was already listed for hearing on 16 June 2026.
Final Outcome
The Hon'ble Bench comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam considered the submissions. Instead of granting the requested three-month extension, the Tribunal extended the liquidation timeline only until 30 June 2026. The Bench issued specific directions to the Liquidator to file the dissolution application without seeking any further extensions. The application IA(IBC)/914(CHE)2026 was disposed of accordingly.
Topics: Insolvency Proceedings, Liquidation Timeline