Authority: National Company Law Tribunal Division Bench (Court-I) Chennai
Order Date: June 17, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard petition CP(CA)/35(CHE)/2025 filed by Ravichandra Systems and Computers Services Ltd under Sections 271 and 272 of the Companies Act, 2016. The petition appears to relate to winding up proceedings. Representatives were present for the petitioner (Shri A.G. Sathyanarayana), the Registrar of Companies (Shri Avinash Krishnan Ravi), and ELCOT (Shri S.B. Vijayaraghavan).
ELCOT filed a memo (Sr. No. 2572 dated June 16, 2026) stating that following the Tribunal's previous order dated April 8, 2026, they had pursued disinvestment approval from the Government through a representation dated June 10, 2026. The Government subsequently sought certain clarifications regarding the disinvestment proposal. ELCOT indicated it would provide these clarifications after meetings with representatives of the petitioner company.
The Registrar of Companies (ROC) filed a report stating that ELCOT had voted against the proposal for winding up, indicating opposition to the liquidation of the company.
Final Outcome
The NCLT granted ELCOT a final opportunity of six weeks to provide the complete response to the Government regarding the disinvestment clarifications. The Tribunal directed the petitioner (Ravichandra Systems and Computers Services Ltd) to extend full cooperation to ELCOT in providing the information being sought. The petition was listed for next hearing on August 19, 2026, with the clear indication that if ELCOT fails to provide the final response within the six-week period, the petition will be proceeded on merits without further delay.
Topics: NCLT Proceedings, Corporate Disinvestment, Winding Up Petition