Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 16 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard a petition (CP(CA)/83(CHE)/2025) filed by G Mohan Babu, a shareholder of M/s. Vipanchi Investments Pvt Ltd, against The Registrar of Companies (RoC), Chennai. The petition was filed under Sections 271 and 272 of the Companies Act, 2013, which pertain to the winding up of companies. During the hearing held via video conferencing, the bench comprising Hon'ble Shri. Sanjiv Jain (Member Judicial) and Hon'ble Shri. Venkataraman Subramaniam (Member Technical) noted several items requiring clarification from the company's balance sheet.
The Tribunal identified two specific areas requiring explanation regarding the company's financial liabilities. First, the balance sheet showed Long Term Borrowing Liabilities amounting to ₹98,92,780. Second, the balance sheet reflected Current Liabilities of ₹4,22,17,200, which comprised land development charges, expenses payable, and audit fees payable.
Final Outcome
The NCLT directed the petitioner to file a memo providing: (1) a list of unsecured creditors constituting the ₹98,92,780 long-term borrowing liabilities and their current status, and (2) detailed breakdown and current status of dues for the ₹4,22,17,200 current liabilities (land development charges, expenses payable, and audit fees payable). The petition was adjourned and listed for next hearing on 22 July 2026.
Topics: Corporate Insolvency, Company Liabilities, NCLT Proceedings