Authority: National Company Law Tribunal, Hyderabad Bench - 1
Order Date: June 10, 2026
Case Overview
The National Company Law Tribunal (NCLT) Hyderabad Bench heard an insolvency petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016. The operational creditor, Sri Ambika Steel & Metals India Pvt Ltd, has initiated proceedings against the corporate debtor, M/s. C 5 Engineering Pvt Ltd, for recovery of an alleged operational debt. The matter was heard before a bench comprising Hon'ble Member (Judicial) Sh. Rajeev Bhardwaj and Hon'ble Member (Technical) Sh. Sanjay Puri. Mrs. Sandhya Rani represented the operational creditor, while Mr. IV Srikrishna Raya appeared for the corporate debtor and accepted notice of the proceedings.
Final Outcome
The NCLT adjourned the matter to September 23, 2026. The corporate debtor's counsel was directed to file vakalat (power of attorney) and counter affidavit within four weeks from June 10, 2026. The operational creditor was given two weeks thereafter to file rejoinder, if any. The case remains pending with no substantive decision on the admission of the insolvency petition at this stage.
Topics: Insolvency Proceedings, Corporate Debt, Legal Hearing