Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: 15-06-2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard CP (IB) No. 154/95/HDB/2025 filed under Section 95 of the Insolvency and Bankruptcy Code, 2016. The petition was initiated by M/s. Aditya Birla Capital Ltd. (now amalgamated with M/s. Aditya Birla Finance Ltd. per NCLT Ahmedabad Bench order dated 24.03.2025) as the financial creditor against Mr. Mariyala Jagan Mohan (Personal Guarantor to Corporate Debtor) as Respondent 1 and M/s. Spectra India Eco Projects Pvt. Ltd. (Corporate Debtor) as Respondent 2. The financial creditor was represented by its proposed resolution professional, Mr. Vakiti Vineeth Reddy. The hearing was conducted in hybrid mode (VC and physical) before a bench comprising Sh. Rajeev Bhardwaj (Hon'ble Member Judicial) and Sh. Sanjay Puri (Hon'ble Member Technical).
Final Outcome
The Tribunal granted one more opportunity to the Respondent (personal guarantor) to file a counter affidavit within three weeks from the order date. The financial creditor was given one week thereafter to file a rejoinder, if any. The matter was adjourned to 27.07.2026 for further hearing.
Topics: Corporate Insolvency, Personal Guarantor, NCLT Proceeding