Authority: National Company Law Tribunal, Bengaluru Bench (Special Bench)
Order Date: 29 June 2026
Case Overview
This matter involves an insolvency petition filed by Canara Bank against Mr. N Nanjundaiah under Section 95(1) of the Insolvency and Bankruptcy Code, 2016. The case is identified as CP(IB) No. 43/BB/2025. The hearing was conducted through physical hearing/VC mode (hybrid). The bench comprised Hon'ble Member (Judicial) Shri. Sunil Kumar Aggarwal and Hon'ble Member (Technical) Shri. Banwari Lal Meena. The Resolution Professional (RP) Shri. Ravindra Beleyur was present for the proceedings.
The principal matter before the tribunal was the status of the Resolution Professional's report, which had not been received at the time of this hearing. The order addresses procedural steps required to move the case forward.
Final Outcome
The tribunal noted that the RP report is still awaited. Once received, the RP must forward copies of the report to learned counsel for all parties. The parties are given 3 weeks from receipt of the report to file any objections or observations, with copies to the opposing side. Following this, the RP may file a rejoinder to any objections within another 3 weeks, with copies to concerned quarters. The matter has been adjourned and is now listed for the next hearing on 27 August 2026 specifically for hearing on the RP report.
Topics: Insolvency Proceeding, Banking Debt, NCLT Adjournment