IN THE NATIONAL COMPANY LAW TRIBUNAL,

DIVISION BENCH – II, CHENNAI

IA (IBC)/1034(CHE)/2022

in

MA/1399/2019

In

CP/1087/IB/2018

(Filed under Section 66 & 67 of IBC, 2016 read with Rule 11 of the NCLT Rules, 2016)

In the matter of M/s Sapphire Spinners India Private Limited

1. G.GUNASEKARAN

Liquidator

M/s Sapphire Spinners India Private Limited

36, Indu Nagar,

Vilankurichi Road, Vilankurichi Post,

Coimbatore-641 035 …Applicant/Liquidator

Vs

1.Karthika Raja

Suspended Director

396 Sudarsan Garden,

Kalangaperi Road, Rajapalayam,

Virudhunagar - 626 108

2. Ramachandra Raja

Suspended Director

396 Sudarsan Garden, Kalangaperi Road,

Rajapalayam, Virudhunagar - 626 108

3. Vinayak Cotton Agencies

133, Cotton Market, Rajapalayam - 622 117

Virudhunagar District

4. The Asset Reconstruction Company (India) Limited

Having Head Office at The Ruby,10th Floor, 29,

Senapati Bapat Marg Dadar -(West),

Mumbai - 400 028

Having Branch Office at

1G, 1st Floor, Century Palza, No.560-562, Anna Salai, Teynampet, Chennai- 600 018. … Respondents Order Pronounced on 21st March 2025 CORAM Shri. JYOTI KUMAR TRIPATHI, MEMBER (JUDICIAL)

Shri. RAVICHANDRAN RAMASAMY, MEMBER (TECHNICAL)

For Applicant : : G Gunasekaran For Respondents 1 &2 : K.S.Ravichandra