NCLT Extends Saravana Stores Liquidation by 3 Months

Authority: National Company Law Tribunal, Division Bench, Court – II, Chennai

Order Date: 16 June 2026

Case Overview

This proceeding was an application (IA(I.B.C)/932(CHE)2026) filed by Mrs. Chitra Perinkulam Raghavan, the Liquidator of Saravana Stores Gold Palace Private Limited. The application was filed in connection with the main petition, C.P. (IB)/135(CHE)2020, and sought an extension of the corporate liquidation process under Regulation 44(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The sole reason provided for seeking the extension was the existence of pending litigations before the NCLT Chennai Bench, which were delaying the completion of the liquidation process.

Final Outcome

The NCLT Chennai Bench, comprising Member (Judicial) Shri. Jyoti Kumar Tripathi and Member (Technical) Shri. Ravichandran Ramasamy, allowed the application. The liquidation process was officially extended by a period of three months, from May 31, 2026, to August 31, 2026. The application was disposed of as allowed.

Topics: Corporate Insolvency, Liquidation Process