Authority: National Company Law Tribunal (NCLT), Kochi Bench
Order Date: 12 June 2026
Case Overview
The order pertains to two Interlocutory Applications (IAs) within the ongoing liquidation process of Sree Bhadra Parks & Resorts Ltd. The applications are IA(IBC)/128/KOB/2026 and IA(IBC)/134/KOB/2025, both filed within the larger matter IA(IBC)/133/KOB/2025, which itself is part of the main insolvency case IA(IBC)/196/KOB/2021 in IBA/13/KOB/2020. The petitioner is K Parameswaran Nair, the Liquidator of Sree Bhadra Parks & Resorts Ltd. The respondents are K N Narayanan Namboodiripad and five others.
The legal provisions cited in the matter include Rule 11, 51, and 57 of the NCLT Rules, read with Order 21 Rule 54 and 64 of the Code of Civil Procedure (CPC), and Section 35(2) and Regulation 33 of Schedule 1 of the Insolvency and Bankruptcy Board of India (IBBI).
Final Outcome
The tribunal adjourned both hearings. The adjournment was requested by the counsel for the applicant/liquidator, Mr. Vinod P.V., who appeared virtually. The reason cited was that the arguing counsel for respondents 1 to 5, Mr. V. R. Gopu, was unavailable due to personal exigencies. A proxy counsel, Ms. Urmial M G, appeared physically for respondents 1 to 5. Counsel Mr. Akhil Suresh appeared physically for respondent No. 6. The bench, comprising Member (Judicial) Shri Vinay Goel and Member (Technical) Shri Ravichandran Ramasamy, adjourned both applications to 23.06.2026.
Topics: Corporate Insolvency, Liquidation Process, NCLT Proceedings