Authority: National Company Law Tribunal, Kochi Bench
Order Date: 12 June 2026
Case Overview
The matter involves liquidation proceedings for Saptha Zeal Private Limited. The Liquidator, Mr. Reuben George Joseph, has filed an application (IA(IBC)/202/KOB/2026) seeking action against seven respondents, including Ajaya Kumar Gopinathan Nair, under Sections 66(1) and (2) of the Insolvency and Bankruptcy Code (IBC), read with Regulation 35(A) of the IBBI and Rule 11 of NCLT. The application is made in the context of the main liquidation petition IA(IBC)(LIQ)/3/KOB/2025, which itself arises from the company petition CP(IBC)/18/KOB/2024. The Liquidator was represented by counsel Mr. Sankar P Panicker through virtual mode.
Final Outcome
The NCLT Kochi Bench, comprising Member (Judicial) Shri Vinay Goel and Member (Technical) Shri Ravichandran Ramasamy, adjourned the case to 30 June 2026. The tribunal directed the Liquidator's counsel to serve notice of the application along with all annexures to all seven respondents through registered post and all available modes, and to file an affidavit of service. The Registry was also directed to send notice to the respondents via email. No substantive decision on the merits of the application under Section 66 was made at this hearing.
Topics: Corporate Insolvency, NCLT Proceedings