Vijay Spinners Liquidation 15th Progress Report Filed

NCLT Chennai takes on record the 15th liquidation progress report for Vijay Spinners Pvt Ltd for Q4 FY26.
Liquidator reports a stay from Sub Court on auction sale, hampering asset realization efforts.
An application under IBC Section 33(5) is filed to seek permission to approach High Court for vacation of stay.
Four appeals are pending before NCLAT, but none contain an order for stay on the process.