Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: July 16, 2026
Case Overview
The hearing concerned multiple applications (MA/700/2018, MA/701/2018, MA/702/2018, MA/672/2019, IA/244/CHE/2021, IA/245/CHE/2021, IA/246/CHE/2021) within the main insolvency petition CP/229/IB/2018 filed by Bank of India against Shri Veeraganapthi Steels Pvt Ltd. The matter was heard by a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). The primary issue before the tribunal was the settlement of outstanding dues related to Corporate Insolvency Resolution Process (CIRP) costs and liquidation costs.
Final Outcome
The tribunal granted time to the promoter directors of Shri Veeraganapthi Steels to resolve the outstanding payment issue. The applications were listed for next hearing on July 31, 2026, for reporting settlement or further hearing.
Topics: Insolvency Proceedings, Liquidation Costs