Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: June 17, 2026
Case Overview
The National Company Law Tribunal (NCLT) Chennai heard petition CP(CA)/27(CHE)/2026 filed by Quintegra Solutions Ltd under Section 66 read with Section 52 of the Companies Act 2023, pertaining to reduction of capital. The petition was heard by a bench comprising Member (Judicial) Shri Sanjiv Jain and Member (Technical) Shri Venkataraman Subramaniam. Counsel Shri R. Inbaraju represented the petitioner company, while Counsel Shri Avinash Krishnan Ravi represented the Resolution Professional (RD).
The Resolution Professional's counsel informed the tribunal that certain queries had been raised regarding the petition, to which the petitioner company had provided responses. The counsel sought additional time to file a comprehensive report based on these developments.
Final Outcome
The NCLT granted the Resolution Professional three weeks' time to file their report. Any responses to this report must be filed within one week thereafter. The petitioner's counsel submitted that the company had already e-filed their reply regarding the report given by RBI (Reserve Bank of India), and the registry was directed to accept the hard copy of this submission. The petition has been adjourned and listed for next hearing on August 12, 2026.
Topics: NCLT Proceeding, Capital Reduction, Corporate Restructuring