Authority: National Company Law Tribunal, Division Bench (Court-I), Chennai
Order Date: 14.07.2026
Case Overview
The matter concerns the liquidation proceedings of Surana Industries Ltd, with IDBI Capital Markets & Securities Ltd as the petitioner. The hearing was held through video conference before a bench comprising Hon'ble Shri Sanjiv Jain (Member Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member Technical). The liquidator, Mr. Ramakrishnan Sadasivan, appeared in person to file IA (LIQ.) Progress Report/287(CHE)/2026, seeking to place on record the 31st Progress Report for the quarter ended 30.06.2026.
The liquidator reported that the liquidation process of Surana Industries Ltd is substantially complete, with the only remaining matter being pending cases before Special Courts. The tribunal reviewed the progress report and directed the liquidator to submit copies of the orders from the Special Courts for complete documentation.
Final Outcome
The National Company Law Tribunal accepted the 31st Progress Report subject to all just exceptions and disposed of the application. The liquidation process remains administratively pending only due to the outstanding cases before Special Courts.
Topics: Corporate Insolvency, Liquidation Process, NCLT Proceedings