Authority: National Company Law Tribunal, Division Bench (Court–I), Chennai
Order Date: 10 June 2026
Case Overview
The hearing concerned an application (CA(CAA)/91(CHE)/2025) and petition (CP(CAA)/16(CHE)/2026) filed by Parry Enterprises India Ltd under Sections 230-232 of the Companies Act, 2013. The matter was heard by a bench comprising Hon'ble Shri. Sanjiv Jain, Member (Judicial) and Hon'ble Shri Venkataraman Subramaniam, Member (Technical). Representatives for the petitioner, the Income Tax Department, and the Official Liquidator (represented by the Asst. OL) were present. A composite report had been e-filed by the Resolution Professional (RD).
Final Outcome
The Tribunal adjourned the hearing and listed the petition for the next hearing on 22 July 2026. The Income Tax Department was granted two weeks to file its reply. The Official Liquidator was also granted two weeks to file a report, stating that a report from a Chartered Accountant was awaited. Counsel for the petitioner, Parry Enterprises India Ltd, submitted that the company was in the process of complying with observations raised by the Reserve Bank of India (RBI) and was awaiting a no-objection certificate.
Topics: NCLT Proceeding, Corporate Compliance, Regulatory Approval