Summary: Akshaya Private Limited faced a delay in filing a request against B.L. Kashyap & Sons Limited. The court, led by Judge N. Anand Venkatesh, decided on January 29, 2026, to forgive the delay with a fine.
On January 29, 2026, the High Court of Madras, with Judge N. Anand Venkatesh in charge, looked into a case involving Akshaya Private Limited and B.L. Kashyap & Sons Limited. Akshaya, based in Chennai, had asked the court to forgive a 231-day delay in resubmitting a request under Section 34 of the Arbitration and Conciliation Act, 1996.
Akshaya’s request was initially submitted on January 28, 2025. However, it was sent back because some mistakes needed fixing. The corrected request was resubmitted on October 24, 2025. Akshaya explained that the delay happened because they were focusing on cases before the National Company Law Tribunal (NCLT) to avoid shutting down.
"The applicant was focusing on the cases before the NCLT to ensure that the applicant company does not go into the process of liquidation."
Judge Venkatesh thought the reasons for the delay were understandable, given the business nature of the case. However, he stressed that delays in such cases shouldn't be taken lightly.
The court decided to forgive the delay but with a condition. Akshaya must pay Rs. 1,50,000 to the other party's lawyer by February 5, 2026. If this condition is met, the request will move forward.
"This application is allowed on condition that the applicant pays cost of Rs.1,50,000 to the learned counsel for respondent."
The case will continue once Akshaya meets the court's condition. The next steps depend on how this decision is handled and further actions in the main request.
