Authority: National Company Law Tribunal Special Bench, Court – II Chennai
Order Date: 14.07.2026
Case Overview
The application was filed by Rajalakshmi Vardarajan, the Liquidator of M/s Supreme Coated Board Mills Pvt Ltd, seeking to place on record the 14th progress report for the liquidation process. The report covered the period from 1st April 2026 to 30th June 2026. The liquidator reported significant challenges in the liquidation process, specifically noting that six previous auctions had failed to attract successful bidders for the corporate debtor's assets. This necessitated planning for another auction attempt.
Final Outcome
The NCLT disposed of the application after directing the liquidator to expedite the liquidation process. The tribunal specifically instructed the liquidator to explore the possibility of a private sale of assets, which would require prior approval from the Stakeholders Consultation Committee (SCC). This direction aims to break the cycle of failed auctions and facilitate the conclusion of the liquidation process.
Topics: Corporate Insolvency, Liquidation Process, NCLT Order