Authority: National Company Law Tribunal, Division Bench (Court–I) Chennai
Order Date: 15 June 2026
Case Overview
The matter involves an interlocutory application (IA(IBC)/952(CHE)/2026) filed in connection with the main insolvency petition CP(IB)/13(CHE)/2026, which is between Hariprasad Associates (Petitioner) and Ocean Lifespaces India Pvt Ltd (Respondent). The application specifically sought condonation of a 15-day delay in filing the reply by the respondent.
Final Outcome
The Hon'ble Bench comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam heard the application and condoned the delay of 15 days. The reply filed along with the application was taken on record. The Tribunal directed that a copy of the reply be served on the petitioner, who was granted two weeks to file a rejoinder, if any. The application (IA(IBC)/952(CHE)/2026) was disposed of accordingly. The main insolvency petition (CP(IB)/13(CHE)/2026) was listed for its next hearing on 31 July 2026.
Topics: NCLT Proceedings, Insolvency Petition, Delay Condonation