Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 10 June 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard part arguments in Company Petition CP(CA)/4/CHE/2025 filed by petitioner Praveen Raja against respondent Paysharp Pvt Ltd under Sections 241-242 of the Companies Act, 2013, which pertain to oppression and mismanagement in company affairs. The hearing was conducted through video conference before a bench consisting of Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). Multiple legal counsels represented the various parties: Mr. Karthik Seshadri for the petitioner, Mr. B. Dhanaraj for respondents R1, R2, R3 and R5, Ms. Vidya for respondents R4 and R7, and Mr. V. Ponnappa Bharathi for respondent R6. The counsels provided a brief summary of facts during the hearing.
Final Outcome
The tribunal adjourned the matter and listed the petition for detailed arguments on the next hearing date of 05 August 2026. No substantive decision on the merits of the oppression and mismanagement allegations was made in this order, which serves solely as a procedural update regarding the hearing schedule.
Topics: Corporate Governance, NCLT Proceedings, Oppression & Mismanagement