Tag
Sanjiv Jain
18 articles
Corporate restructuring efforts continue to face delays within the Indian legal system, as evidenced by multiple adjournments in NCLT Chennai proceedings. Hearings for petitions involving companies like Navrang Shipping, Goldquest International, AALAYAA Mills, Ambadi Enterprises, and ADJ Utility Apps have been postponed to July and August 2026, often pending reports or responses from various parties. While these procedural updates do not represent material changes in the underlying financial situations of these businesses, they underscore the protracted and complex nature of corporate debt resolution in India, potentially creating uncertainty for investors and stakeholders involved.
Navrang Shipping TCP/65/2016 Adjournment to August 2026
NCLT Chennai adjourns hearing for TCP/65/2016 petition filed under Sections 397/398 of Companies Act 1956.
Petitioner's counsel requests adjournment citing unpreparedness; respondent's counsel is busy
NCLT Chennai Adjourns Mamallapuram Development Dispute
NCLT Chennai bench hears petition TCP/197/2016 filed under Sections 397/398 of Companies Act, 2013.
Petitioners reject settlement offer from respondents and decline mediation, seeking decision on meri
NCLT Chennai Adjourns Mars Consortium Infra Hearing
The National Company Law Tribunal Chennai adjourned hearing for case G.S Rajesh vs Mars Consortium Infra Pvt. Ltd. to 17 June 2026.
The matter involves multiple applications including CA/1/2013 and IA
Ocean Lifespaces India Insolvency Petition Reply Delay
NCLT Chennai condones delay in filing reply by Ocean Lifespaces India in operational creditor insolvency petition.
Tribunal grants two weeks to petitioner Hariprasad Associates for filing rejoinder to
NCLT Chennai Adjourns Goldquest International Hearing
NCLT Chennai adjourns a petition against Goldquest International Pvt Ltd filed under Sections 271-272 of the Companies Act, 2013.
The petition hearing was held via video conference on June 10, 2026, w
AALAYAA Mills NCLT Petition Adjourned to July 1
NCLT Chennai adjourns hearing for AALAYAA Mills Pvt Ltd's petition under sections 230-232 of the Companies Act, 2013.
Income Tax Department granted one week to file reply or report on the matter.
Peti
NCLT Chennai Adjourns Transmarine Services Hearing
NCLT Chennai Division Bench adjourns hearing for CP(CA)/1262/CHE/2019 to July 28, 2026.
Counsel for petitioner confirms receipt of application copy, seeks two weeks for reply.
Matter involves Sherry J
Luckyyarn Tex NCLT Scheme Hearing Adjourned
NCLT Chennai hears petition by Luckyyarn Tex India Pvt Ltd under Sections 230-232 for a scheme of arrangement.
Income Tax Department states no objection to the proposed scheme but will file formal rep
Ambadi Enterprises NCLT Petition Adjourned to July
NCLT Chennai adjourns Ambadi Enterprises' petition to 22 July 2026 pending reports.
Petitioner is complying with RBI observations and awaiting no objection certificate.
Income Tax Department and Resol
ADJ Utility Apps NCLT Hearing Adjourned to July
NCLT Chennai adjourns hearing for ADJ Utility Apps petition to July 22, 2026.
Resolution Director and Income Tax Department granted two weeks to file replies.
Petition filed under Sections 230-232 of
K S R Textile Mills Oppression Mismanagement Petition Hearing Adjourned
NCLT Chennai adjourns hearing for oppression and mismanagement petition CP/91(CHE)/2022 to 07.08.2026.
Pleadings are complete and the matter involves overlapping issues between the same parties.
The p
NCLT Seeks Refex Industries Scheme Clarifications
NCLT Chennai hearing on Refex Industries' composite scheme under Sections 230-232 of the Companies Act 2013.
Tribunal seeks clarifications on warrant holder status, scheme modifications, and asset/lia
Murugappa Water Technology NCLT Hearing Adjourned
NCLT Chennai adjourns hearing for Murugappa Water Technology petition to July 22, 2026.
Petitioner is complying with RBI observations and awaiting no objection certificate.
Income Tax Department filed
K S R Textile Mills NCLT Hearing Postponed to August
NCLT Chennai postpones final hearing for company petition CP/112(CHE)/2022 to 07 August 2026.
Interlocutory application IA/94(CHE)/2024 for amendment and additional documents listed for 31 July 2026.
NCLT Chennai Adjourns Notion Press Maintainability Hearing
NCLT Chennai Division Bench records parties failed to reach an amicable settlement in the matter.
Respondents raised the preliminary issue of the petition's maintainability, with arguments completed.
NCLT Allows RL Logistics IBC Filing Appeal
NCLT Chennai allows RL Logistics Pvt Ltd's appeal against registry's refusal to register its Section 54(1) IBC application.
Registry had declined registration citing two defects: incorrect first page
Subamangal Properties NCLT Scheme Approval Hearing
NCLT Chennai hears second motion petition by Subamangal Properties for a scheme under Companies Act Sections 230-232.
Unsecured creditors approved the scheme on 09.05.2026, with equity shareholder mee
NCLT Chennai Adjourns Teknomec Technologies Petition
NCLT Chennai bench adjourns a company petition and related applications filed by R E Chandrasekar against Teknomec Technologies to August 2026.
Tribunal directs registry to accept hard copies of repli