The National Company Law Tribunal (NCLT), Chennai Bench, has ordered the initiation of the Corporate Insolvency Resolution Process (CIRP) against Kamachi Steels Private Limited. The order, relating to petition number CP(IB)/84(CHE)/2025, was pronounced by the Division Bench on October 15, 2025.
The petition was filed under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, by the operational creditor, Greta Steels Pvt Ltd. The Tribunal’s bench, consisting of Sanjiv Jain (Judicial Member) and Venkataraman Subramaniam (Technical Member), admitted the petition, finding that the Corporate Debtor had defaulted on its operational debt.
Key details of the default
- Total Claimed Debt: The operational creditor’s…