Swastik Spinners Liquidation Awaits NCLAT Order

NCLT Chennai adjourns Swastik Spinners liquidation proceedings to June 2026, awaiting a final order from the NCLAT.
The hearing involved the liquidator and Tamil Nadu Mercantile Bank as a party in the ongoing insolvency resolution process.
Multiple interlocutory applications (IA/1758/2025, IA/1292/2025) and a contempt application (CONT.APPL/2/2025) are pending in the main petition CP/288/IB/2018.