Authority: National Company Law Tribunal, Division Bench–I, Chennai
Order Date: 30 June 2026
Case Overview
The hearing pertains to Main Petition Number CP(IBC)/120/CHE/2022, where Piramal Capital & Housing Finance Ltd. is the petitioner and Shaft Developers Pvt. Ltd. is the respondent. This is an insolvency proceeding initiated under the Insolvency and Bankruptcy Code (IBC) in 2022. An interlocutory application numbered IA(DIS)/39/CHE/2025 is also part of the proceedings. The hearing was conducted through video conferencing before a bench comprising Hon'ble Shri. Sanjiv Jain, Member (Judicial) and Hon'ble Shri. Venkataraman Subramaniam, Member (Technical).
During the hearing, Shri. NP Vijay Kumar, learned counsel for the Liquidator, and Shri. Pawan Jhabakh, learned counsel for the erstwhile promoter, were present. However, the arguing counsel for the erstwhile promoter was stated to be unavailable, leading to a request for an adjournment.
Final Outcome
The bench granted the adjournment and listed the application for the next hearing on 09 July 2026. The order was signed by both members of the bench. The substantive matters of the insolvency petition remain pending and will be heard on the next date.
Topics: Insolvency Proceeding, NCLT Hearing, Adjournment