NCLT Chennai hears application from M Shanmugam seeking to continue occupying leased premises owned by Tamilnad Mercantile Bank.
Applicant requests permission to remain in 25,000 sq.ft factory sheds and pay rent per November 2023 lease deed.
Bankruptcy Trustee reveals auction notice issued for property sale on May 7, 2026, while bank claims symbolic possession.
Tribunal adjourns hearing to June 4, 2026, directing applicant to implead Tamilnad Mercantile Bank as party.