Authority: National Company Law Tribunal (NCLT), Division Bench (Court–I), Chennai
Order Date: 09 June 2026
Case Overview
The hearing concerned an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The operational creditor, Swati Jain, filed the petition (CP(IB)/189(CHE)/2024) against the corporate debtor, Tharun Tex Spin Mills Pvt Ltd. The bench, comprising Hon'ble Shri. Sanjiv Jain (Member - Judicial) and Hon'ble Shri Venkataraman Subramaniam (Member - Technical), conducted the hearing via video conference. Legal counsel for both parties were present: Ms. Menaka for the petitioner and Mr. Krishna Dath for the respondent. The bench heard arguments from both sides, received a filed synopsis, and sought clarifications during the proceedings.
Final Outcome
The bench reserved its final order. No immediate directions, admissions, or dismissals were issued. The final ruling on the admission of the insolvency petition is pending a future order from the tribunal.
Topics: Insolvency, Textiles